The Kirikiri Lighter Terminal (KLT) Command of the Nigeria Customs Service said it has generated N10.57 billion as revenue for the first quarter of year 2023.
This amount represents 76.87% of its expected revenue for the quarter.
The command has a revenue target of N55 billion for the current year.
Customs Area Controller at the command, Comptroller Timi Bomodi, said “While we acknowledge the impact of monetary policy changes and the effect of exchange rates on business, the overall effect has been a downturn in import volume, hence the Command’s performance.
“However, all hands are on deck to safeguard and protect all revenue accruable from import and export trade, to this effect Demand Notices to the tune of N68.5m has been raised to shore up the shortfall in revenue.
“Kirikiri Lighter Terminal Command has a strategic advantage over other ports in Lagos, its unique location allows for immediate entry and exit, unlike other ports where there is an average waiting time of seven days. Its major impediment is the draft, which restricts the direct berth of sea-going vessels.
“This challenge has recently been overcome with the introduction of ocean-going lighter barges with the capacity of moving over 200 TEU’s.
“Given its location, the command allows for the easy evacuation of exports and empty containers, a challenge most shipping companies and terminals have difficulties overcoming.
“KLTC has an installed capacity of handling about 6,000 TEU but presently it is functioning at less than 10% of its installed capacity and there is a lot of room for growth.
“With the commissioning of a few new terminals and the promise of increased cargo allocation, we are hopeful of a positive turnaround in activities both for imports and exports as we believe that as trade volume increases, so will the revenue profile.”