ACFFT Raises Alarm Over Revenue Target for Nigeria Customs Service
By Mcanthony Onuoha
Following what it described as “ambitious revenue target of 5.09 trillion” given to the Nigeria Customs Service- NCS by the Federal Government for the current fiscal year(2024). Association of Concerned Freight Forwarders and Transporters- ACFFT has called on government to prioritize measures that would encourage foreign investments and not ones that keep emasculating businesses.
SIR JOHNNY UBAKA, NATIONAL COORDINATOR, ACFFT
In a press release signed by the National Coordinator of the Association, Sir Johnny Ubaka, and made available to The Prestige Magazine Online, he said that the directive has raised serious concerns about its potential impact on Customs Officers, importers and the general public. He raised an eyebrow against the significant drop in importation rates, coupled with challenges in the maritime industry, stressing that it has further highlighted the need for a more balanced approach to revenue generation.
According to Ubaka, “in light of these challenges, it is essential for the federal government to prioritize measures that encourage foreign investment, enhance trade and explore methods for duty collection in response to fluctuating exchange rates. Additionally, there is the need to focus on promoting exports to boost the country’s GDP”.
” It is our hope that these concerns will be addressed in a manner that supports sustainable economic growth and development for Nigeria,” Ubaka stated.
