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Customs collects N77.9bn revenue in first quarter

14 April 2014, 21:43

Abuja -The Nigeria Customs Service collected N77.9 billion revenue in the first quarter of 2014.

This is contained in the summary of monthly revenue document of the Service released on Monday in Abuja.

The document stated that N27.4 billion was collected in January, N23.8 billion in February and N26.7 billion in March.

It stated that out of the revenue collected during the period, N41.7 billion was remitted to the Federation Account and N36.2 billion remitted to non-federation account.

The revenue, the document stated, was collected from duties, fees and levies.

It added that N7.2 billion was collected on port levy, N1.4 billion from levy on sugar, N7.2 billion from wheat grain levy and N1 million from flour levy.

It also stated that N41.7 billion of the revenue figure was realised from 5 percent Value Added Tax (VAT) while N131.8 million was from National Export Supervision Scheme (NESS).

Other special levies which provided revenue during the period, according to the document, are Comprehensive Import Supervision Scheme and ECOWAS Trade Liberalisation Scheme, which accounted for N10.5 billion and N6.3 billion, respectively.

A further breakdown of the revenue figure showed that N2.6 billion was generated from 100 percent rice levy, N79.2 million from brown rice levy and N112.5 million from steel levy.

According to the document, textile levy accounted for N24.1 million, N4.8 million from wine, cement levy, N274.9 million and N135 million from cigarette levy.

-  NAN

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