Nigeria export trade rises by 73 per cent In Q1

Abiola Seun 

Nigeria export trade has risen by 73 percent as  Tin Can Island Command of the Nigerian Customs Service (NCS), over the weekend, said it facilitated non oil exports operations in 6 months.

Speaking to journalists, the Customs Area Controller, Compt. Kunle Oloyede, said the command recorded sharp increases  of  73 per cent and 66.6 per cent in the volume and  Free on Board (FOB), value of non oil exports that was handled in the first half of the year.

He also disclosed that the command also recorded an outward throughput in export cargo of 138,246.50 metric tons in the first half of this year  as against 100,500 metric tons, it  recorded in  the corresponding period of 2021.

In the same vein , it also  handled ,non oil exports with Free on Board Value( F.O.B)  value of N100,447,304,814.00 during  the period as against  N66,294,630,421.00  between January and June, 2021.

Comptroller Oloyede, however, lauded  the management of the Nigeria Ports Authority, for its  seamless collaboration  with the Command in facilitating the clearance process of export-related cargo at  Tincan island Port Command.

He disclosed that in the realm of trade facilitation, the Command continues to provide a conducive  environment for trade, through continuous engagement and collaboration with relevant stakeholders and regulatory agencies of Government.

According to him,  the dispute settlement structure of the Command aligns with the provisions of the import duty mechanism, outlined in paragraph (H) subparagraph (8) of the Import Guidelines, Procedure and Documentation Requirements , which allows an importer to take delivery of his cargo in the case of persistent dispute after securing a bank bond, the total duties and taxes payable on the item being disputed

On the 2022 fiscal measure, he said  Initially, goods imported into Nigeria were prohibited from exportation, adding that  the new fiscal policy allows for goods imported into Nigeria to be exported subject to payment of 2.5% of the current market value of the item being exported.

He expressed the Command’s appreciation   for the support and clear sense of direction from the Comptroller General of Customs, Col. Ibrahim, Hameed Ali (rtd.) and the Management of the Nigeria Customs Service for their relentless effort towards strengthening  the capacity of the Service to perform its statutory responsibilities in line with international best practices.

 
It will be recalled that as part of the Federal Government diversification policy meant to boost exportation of non- oil exports products in the country, the Nigerian Ports Authority(NPA) last year   designated the Lillypond Terminal in Ijora , Lagos as a non- oil exports processing Terminal, while the Nigerian Shippers’ Council(NSC) in conjunction with the Nigerian Export Processing Counc) ,recently approved, six new export processing centres  nationwide

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