Nigerian House Of Representatives House Dissolved 1.3 Trillion Naira Customs Revenue Target

Nigerian House Of Representatives House Dissolved 1.3 Trillion Naira Customs Revenue Target
Nigerian House Of Representatives House Dissolved 1.3 Trillion Naira Customs Revenue Target

 

The proposal containing the Customs Revenue target for fiscal year 2022 has been rejected by the Finance Committee of the House of Representatives Presenting the document to the Chamber in Abuja yesterday, Comptroller General, CG, Nigerian Customs Service, NCS, Hameed Ali, explained that the agency expects to generate N1.33 trillion next year.

Ali said this at the Public Hearing on the 2022/2024 Medium Term Expenditure Framework and the Fiscal Strategy Document (MTEF / FSP).

The CG, convinced by the revenue projections, told the committee that the agency’s goal is achievable, adding that NCS would work hard to achieve the goal.

Lawmakers Say Targeted Customs Revenue Ridiculous Unfortunately, the legislators did not share the same enthusiasm as the customs chief.

In response, Representatives were of the opinion that the projected income for 2022 is too low for Nigerians and may need a review.

In his words, the Chairman of the Committee of the House of Representatives, Customs, H.E. Leke Abejide said the projection is “ridiculous” given that the naira has been devalued.

Abejide asked Nigerian Customs to redirect their revenue target to a higher sum. He said the agency is expected to generate at least N2.5 billion and more.

According to him, “this is very ridiculous because now the naira has already been devalued. This way you will discover the volume of money that you are obtaining. If you want to get the real value, you will see that it is not a real improvement.

In the same way, the Hon. Muktar Ahmed said there is no way the Committee will accept anything less than N3 billion