Amidst High Inflation, Economic Hardship, Customs Boasts Of N17.9bn Revenue In A Day

The Apapa Area Command of the Nigerian Customs on Monday, boasted of improving revenue generation and recorded N17.9 billion of revenue in a day. This is coming when Nigerians are battling economic hardships due to a high inflation rate and rise in food prices.

The command’s Area Comptroller, Babatunde Olomu, who was appointed about a month ago, said he is committed to sustaining the high revenue of the command under his command.

“The feat marks the beginning of many more revenue collection exploits, trade facilitation, and anti-smuggling exploits to be achieved in the course of discharging our statutory responsibilities,” he said.

Meanwhile, it is unclear if the massive revenue was generated exclusively through import duties or by including extortive fees paid by importers.

Importers of goods often lament about high duties and excess clearing fees, resulting in the high cost of imported goods, especially food items.

Importers and business analysts have repeatedly urged the federal government to reduce import duties and taxes on import goods, but their calls have fallen on deaf ears.

Nigeria’s inflation rate rose to 33.95% in May 2024, nearing the country’s highest inflation rate ever. This and the country’s forex challenges and insecurity have led to rises in food prices.

Analysts have argued that the federal government cannot tax Nigerians out of economic depression, but the Tinubu-led administration continues to suffocate Nigerians with taxes and levies.

Meanwhile, Kenyans have recently taken to the streets in protest against new taxes introduced by their federal government through a Finance Bill. The citizens, mostly youths, say the new taxes will exacerbate economic hardships, and they have vowed to continue the nationwide protests despite violent suppression by security forces.

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