Oyo/Osun Customs revenue hits N56.6bn in 9 months

The Nigeria Customs Service, Oyo/Osun Area Command, on Wednesday, announced a significant increase in revenue collection, generating N23.9 billion between August and September 2024.

This represents a 27.5% surge compared to the N17.3 billion collected during the same period in 2023.

According to Dr. Ben Oramalugo, Customs Area Controller, “Our cumulative revenue for January to September 2024 stands at N56.6 billion, marking a 7.85% increase from the N52.2 billion collected during the corresponding period in 2023.”

Attributing the success to his team, Oramalugo said, “Our officers have demonstrated exceptional commitment, ensuring thorough documentation checks to avoid revenue leakages. Their efforts reflect our pivotal role in the nation’s economic recovery.”

On the revenue sources, Oramalugo noted, “The bulk of this revenue came from legitimate production activities by excise factories within our area of responsibility. We’ll continue to support genuine businesses while combating smuggling.”

READ ALSO: Customs seizes 4 containers of N1.2bn illicit drugs in Lagos

Regarding challenges, Oramalugo stated, “Despite current financial strains affecting businesses and citizens, we remain committed to maintaining an upward trajectory in revenue generation. Our dedication to national economic growth remains unwavering.”

Key Highlights:

1. N23.9 billion revenue collected between August and September 2024

2. 27.5% increase from N17.3 billion collected in the same period in 2023

3. Cumulative revenue of N56.6 billion for January to September 2024

4. 7.85% increase from N52.2 billion collected in the corresponding period in 2023

5. Revenue primarily generated from legitimate production activities by excise factories

“The Nigeria Customs Service is resolute in its commitment to national economic development,” Oramalugo concluded.

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