The Nigeria Customs Service, Oil and Gas Free Trade Zone Command in Onne, Rivers State, has reported generating N53.98 billion in revenue between January and November 2024.
This represents a significant 98.6% increase compared to 2023, as disclosed by the Customs Area Controller, Comptroller Usman Seriki, during a press briefing at the command’s headquarters.
Seriki mentioned that the command not only met but exceeded its annual revenue target for 2024 by 2.3%.
“It is worthy of note that the command, in the period under review, surpassed its annual target for the fiscal year 2024 with a revenue collection of N53.98 billion,” he stated.
The revenue figure, which surpasses the previous year’s collection by N26.8 billion, underscores the command’s commitment to improved efficiency and dedication.
“This figure has exceeded the 2023 revenue by N26.8 billion, representing a 98.6% increase from last year,” Seriki added.
Seriki credited the command’s success to its focus on innovation and regulatory compliance, which have enhanced trade facilitation in the vital oil and gas sector.
“The command has demonstrated unwavering commitment to excellence, innovation in trade facilitation while maintaining regulatory compliance in this vital sector of Nigeria’s economy,” he said.
He outlined the command’s role in ensuring smooth import and export operations through licensed enterprises within the free zone.
“The command also oversees free zone activities, including monitoring goods received via sea or air, supervising value addition by licensees, and managing stacking areas within the zone,” Seriki explained.
The command facilitated notable exports during the period, including refined sugar from Bundu Sugar Refinery, fertilizer from Notore Chemical PLC, and liquefied natural gas and crude oil from Bonny Island.
Seriki emphasized the importance of efficiency, transparency, and strict adherence to customs regulations in revenue collection.
“In fulfilling our core mandate of revenue collection, we shall continue to ensure trade facilitation and compliance with Customs regulations, while promoting efficiency and transparency in clearance procedures,” he assured.
He expressed appreciation to stakeholders and the Oil and Gas Free Trade Zone Authority for their collaboration in achieving the revenue milestone.
“I sincerely commend the Oil and Gas Free Trade Zone Authority for their overwhelming support and all stakeholders in the zone for their cooperation in achieving this milestone,” Seriki remarked.
Additionally, Seriki praised the Comptroller General of Customs, Bashir Adeniyi, for his impactful leadership. “His exemplary guidance and visionary initiatives have been instrumental to our achievements,” he.maintaned.
