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Border closure: Customs rakes in N6billion daily

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 Border closure: Customs rakes in N6BILION DAILY

Nigeria rakes in between N5 billion and N6 billion daily from imports since the closure of its land borders with neighbouring countries.

Prior to the closure in August 2019, daily duty collections hovered between N4 billion and N5 billon, said the Nigerian Customs Service (NCS) in Lagos on Tuesday.

The NCS Comptroller-General Col. Hammed Ali (rtd.) attributed the rise to increased activities at the nation’s seaports.

”The NCS daily collection before the border closure ranged between N4 to N5 billion but now, the NCS collects N5billion to N6 billion daily as a result of the rise in activities at the nation’s sea ports,” Ali said on Tuesday at a forum on the “impact of land border closure on the Nigerian economy.”

The forum was organized by the Lagos Chamber of Commerce and Industry (LCCI), and the support of Center for International Private Enterprise (CIPE) in Lagos.

Meanwhile, the Director-General of the Manufacturers Association of Nigeria has warned that border closure cannot be sustained for a long term as many local business who survive by imported goods will collapse and wil have a trickle down effect on the macroeconomic state of the nation.
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