FCT Customs Command collects N2.05bn revenue

The FCT Area Command of Nigeria Customs Service (NCS) on Monday said it collected N2.05 billion revenue in 2013 against N2.7 billion collected in 2012.

The 2013 revenue, generated from duties, fees and levies made up of the amount remitted to the federation account and non-federation account, was N688.8 million less than that of 2012.

The command reported that N1.3 billion was collected on import duties, N4.3 million from Common External Tariff (CET) levy and N10.3 million was collected from fees and penalties.

The command’s revenue profile showed that N461.1 million came from the five per cent Value Added Tax (VAT), N91.3 million from  the seven per cent port levy and N160,959 came from Iron levy.

Some special levies, according to the statement included, Comprehensive Import Supervision Scheme and ECOWAS Trade Liberalisation Scheme which accounted for N175 million.

A further breakdown showed that N1.3 billion was remitted into the federation account, while N728.5 was remitted to non-federation account.