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Nigeria Customs Service Reports $937 Million in Exports for Q3 2024

Olusola Blessing by Olusola Blessing
October 11, 2024
in Economy, News
0
Nigeria Customs Service Reports $937 Million in Exports for Q3 2024
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The Nigeria Customs Service’s Lilypond Export Command in Lagos has announced that it processed exports worth $937 million in agricultural produce and manufactured goods during the third quarter of 2024. Area Controller Ajibola Odusanya shared this information at a press briefing in Ijora, Lagos.

Odusanya credited this remarkable achievement to the consolidation of all export operations under the command, marking a 407% increase from $184 million in the previous quarter. He noted that in September alone, the command handled 3,363 export containers, totaling 221,961.53 metric tonnes valued at $202 million.

The primary contributors to this success were agricultural commodities, particularly sesame seeds and hibiscus flowers, which accounted for $93.7 million, followed by manufactured goods at $65 million. The command generated N1.45 billion under the Nigerian Export Supervision Scheme (NESS) from all export activities in September. Additionally, it collected N88 million in duties on exports of previously imported goods, adhering to the 2022 Fiscal Policy.

Odusanya highlighted a significant surge in the tonnage of exported goods, increasing by 368% from 86,783.93 metric tonnes to 405,979.72 metric tonnes. The NESS also experienced a staggering 733% growth, rising from N640 billion to N5.3 trillion. Furthermore, duties on exports of previously imported goods increased from N29 million to N136 million, representing a 359% rise.

Odusanya attributed these improvements to enhanced export processing capacity, better tracking, and stringent enforcement of customs regulations following the consolidation. He stated, “The consolidation of export seats at all Lagos ports into the command has yielded significant gains, reflected in the impressive increases across key export metrics.” 

He emphasized that the centralization of export operations has eliminated bureaucratic bottlenecks, resulting in faster processing times for export documentation and improved compliance with NCS guidelines, thereby creating a more transparent and efficient export value chain. 

This impressive performance in exports signals a positive trend for Nigeria’s agricultural and manufacturing sectors, offering opportunities for MSMEs to expand their market reach and enhance their contribution to the economy.

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Tags: Nigeria Customs Service Reports $937 Million in Exports for Q3 2024Nigerian Export Supervision Scheme (NESS)The Nigeria Customs Service’s Lilypond Export Command
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