Remarkable :  As Customs at KLT Command rakes in NIO.6bn

Remarkable :  As Customs at KLT
Command rakes in NIO.6bn

…Hits N76.87% revenue target in 2023

Nigeria Customs Service, Kirikiri Lighter Terminal (KLT) Command has performed remarkably, with a huge sum of NIO,572,518,271 (approximately N10.6billion) generated for the Federal Government.

This outstanding performance in the first quarter, represents 76.87 percent expected revenue, out of anticipated revenue target of N55 Billion for the current year (2023).

The Customs Area Controller (CAC) of KLT Command, Compt COMPTROLLER T BOMODI, revealed these details to reporters, through a press statement released on activities of the Command .

He added :  “The Command is saddled with the responsibility of trade facilitation, revenue generation and  enforcement of fiscal policy with anticipated revenue target of N55billion for the current year (2023).

“It has taken steps to invigorate its revenue drive by encouraging shipping companies and other critical stakeholders, who had up to this period overlooked the Command as a strategic destination of choice for incoming and outgoing cargoes.”

On import, the CAC said : “While we acknowledge the impact of monetary policy changes and the effect of exchange rates on business, the overall effect has been a downturn on import volume, hence the Command’s performance.

“However, all hands are on deck to safeguard and protect all revenue accruable from import and export trade, to this effect, Demand Notices to the tune of N68.5million had been raised to shore up the shortfall in revenue.”

Giving more details on export trade within the period under, he pointed out : “Prior to this period, the Command was used as a transit hub for exports. However, since establishment of an export processing terminal, all export procedures have since commenced in the Command with anticipated uptick in export volume.

“The first quarter of 2023, also saw the establishment of a clinic for the Command, which was commissioned by the ACG Zone ‘A’ on behalf of the CGC. This has significantly contributed to the well-being of Officers, as all health-related challenges are given prompt attention before they are referred to other facilities.”

He emphasised : “Kirikiri Lighter Terminal Command has a strategic advantage over other ports in Lagos, it is a unique location allows for immediate entry and exit, unlike other ports where there is an average waiting time of seven days. Its major impediment is the draft, which restricts the direct berth of sea-going vessels. This challenge has recently been overcome with the introduction of ocean-going lighter barges with the capacity of moving over 200 TEU’s.

“Given its location, the Command allows for easy evacuation of exports and empty containers, a challenge most shipping companies and terminals have difficulties overcoming.

“KLTC has an installed capacity of handling about 6,000 TEU, but presently, it is functioning at less than 10 percent of its installed capacity and there is a lot of room for growth. With the commissioning of a few new terminals and the promise of increased cargo allocation, we are hopeful of a positive turnaround in activities both for imports and exports. We believe that as trade volume increases, so will the revenue profile”.