The Nigeria Customs Service has declared a total collection of N74,048,149,945 as revenue collected at the Lagos Free Trade Zones in 2023 from Lekki Port and other free zones in Lagos in 2023.
Customs Area Controller of the Lagos Free Trade Zones (LFTZ) Command Comptroller Mohammed Babandede who disclosed this also said the amount surpassed N25,050,214,302 collected in 2022 which amounts to 102.82 percent increase.
He described the NCS role in economic development as very critical while emphasising on synergies with sister government agencies while discharging it’s functions with all sense of professionalism.
Babandede who expressed optimism in surpassing the command’s 2024 revenue target,said the command will step up its activities in the new year despite unfavourable exchange rate and other challenges.
He said “We are steadfast to surpassing these amounts in 2024. Although we understand that high exchange rate and other challenges are affecting importation, but that will not deter us from collecting accurate duties on the little importations through the Port.
“Free Zone is a special economic zone where foreign investors are encouraged to invest in the country.
The emphasis here is not just on revenue generation but the tremendous opportunities in the areas of employment, transfer of technology, foreign direct investment, among other benefits.
It is also a government initiative to enhance economic growth and development. The Nigeria Customs Service (NCS) as one of the major players in Nigeria’s economic growth has continued to play a pivotal role in the Free Zones to actualize this initiative of the government.
“Lagos Free Trade Zone Command was created to oversee the activities of all Free Zones in Lagos State, including the Lekki Deepsea Port.
The roles of the Command in the Free Zones are, but not limited to trade facilitation, monitoring activities of enterprises and revenue generation.
Meanwhile, the Command has continued to demonstrate high level of professionalism in carrying out its mandates in line with international Customs best practices.
“Since my assumption in office, I have ensured stronger collaboration with sister agencies and relevant stakeholders in the Port and Free Zones like Nigeria Export Processing Zones Authority, Zone managements, Nigeria Port Authority, Port Terminal/ Port Operators, Association of Nigeria Licensed Customs Agent, National Association of Government Approved Freight Forwarders, Nigeria Police, Navy, Immigration among others. We share ideas and communicate effectively during meetings to discuss on how to better our operations and the importance of working together in the interest of our dear nation” he said