The revenue profile is made up of import duty, Value Added Tax, Sugar Levy, Comprehensive Import Supervision Scheme CISS, Port Development Levy and other sundry collections paid into the Federation Account through the Central Bank of Nigeria CBN.
Details of the revenue figures released by the command’s Public Relations Officer, Mr. Chris Osunkwo, showed that while a total of N165.1 billion was collected between January and December 2008, a total of N117.6 billion was collected in the comparative period of 2009, which indicates a decline of N37.4 billion.
Similarly, the command collected a total of N155.4 billion in 2010, which increased by over N88.3 billion to peak at N193.7 billion in the comparative period of 2011.
The revenue collection further grew by over N14.7 billion in 2012 to peak at N208.4 billion in 2012 and further grew to N240.2 billion and N284.3 billion in 2013 and 2014 respectively, which represents a growth rate of N44.2 billion.
The statement however attributed the N44.2 billion difference between the 2013 and 2014 revenue collections, which represents 18.4 per cent growth rate to the return of the new Destination Inspection scheme, which also led to the introduction of the Pre-Arrival Assessment PAAR, regime.
According to him, after the initial challenges face by the new PAAR regime, which insists that importers must complete the documentation processes for their consignment before their arrival were surmounted, there was an upsurge in cargo volumes, which consequently led to increase in revenue generation.
He also said that because of the perfection in filing import documents that was brought by the new system, several sources of revenue leakages were blocked, which also boosted the commands revenue generation for the financial year.
Details of the revenue figures for 2013 and 2014 show that a total of N21.6 billion was collected in January 2014 as against the N16.3 billion collected in the comparative period of 2013.
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