Customs & ExciseEconomyHeadlines Nigeria export trade rises by 73 per cent In Q1 By maritimemag July 26, 2022 ShareTweet 0 Moving overstayed containers to government terminals 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 disputedOn 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 © 2022, maritimemag. All rights reserved.