Nigeria Customs Boosts Q3 2024 Exports to $937 Million
The Nigeria Customs Service (NCS), Lilypond Export Command, has announced a significant increase in export activities for the third quarter of 2024, with a total export value of $937,357,129.90. This figure marks a remarkable 407.05% rise compared to the $184,880,029.35 recorded in Q2 2024.
Comptroller Ajibola Odusanya, the Customs Area Controller for Lilypond, attributed this substantial growth to enhanced efficiency following the consolidation of export processes at the Command. According to him, the streamlined procedures have enabled faster processing times and reduced bureaucratic delays, leading to better compliance with Nigeria Customs Service guidelines.
“The value of shipments in the third quarter saw a remarkable increase of 407.05%, from $184,880,029.35 to $937,357,129.90. This substantial rise can be attributed to enhanced efficiency following the consolidation of export seats at the Command,” Odusanya explained.
For September 2024 alone, the Lilypond Export Command processed 3,363 export containers, weighing a total of 221,961.53 metric tons. The declared value of exports for that month amounted to $202,267,327.46. In addition, the Command generated N1,493,326,491.83 under the Nigerian Export Supervision Scheme and collected N88,337,176.00 in duties on exports of previously imported goods, in line with the provisions of the 2022 Fiscal Policy.
Comptroller Odusanya highlighted the positive impact of consolidating export processes, which has led to smoother operations and significant increases in export volume. “The primary benefit was the elimination of bureaucratic bottlenecks that previously hindered smooth export processes. The centralisation of export operations has allowed for faster processing times for export documentation, improved compliance with NCS guidelines, and a more transparent and traceable export value chain,” he stated.
This boost in export activities, driven by agricultural and manufactured goods, underscores Nigeria’s efforts to enhance its trade capacity and strengthen its position in the global market.
