From Ndubuisi Orji, Abuja
The House of Representatives has said it would come up with legislative initiatives to modernise the operations of the Nigerian Customs Service (NCS) and foster a conducive environment for the growth of the nation’s economy.
The Chairman, House Committee on Customs and Excise, Leke Abejide, stated this, on Wednesday, at the inaugural meeting of the Committee. Abejide promised that the House will build on the achievements of the 9th House.
The lawmaker explained that the preceding assembly recorded a milestone with the repeal of 63-year-old Customs and Excise Management Act, and re-enactment of new legal framework to guide the operations of the service.
He stated that in line with its oversight function, the Committee “will closely monitor the NCS’s progress in implementing the Act, ensuring that it adheres to the principles of transparency, accountability, and efficiency.”
According to him, “We will closely scrutinise the NCS’s revenue collection and remittance processes to ensure that all customs duties and levies are promptly accounted for and remitted into the Federation Account.
“We shall continue to review the NCS’s cost of collection to ensure that it is reasonable and justifiable. It is worth mentioning that the new Act introduces a more streamlined and revenue-enhancing approach. Instead of the previously imposed 7% surcharge on duty payable, the Act now mandates a 4% Free on Board (FOB) charge.
“This change ensures that waivers granted do not adversely impact the revenue collection targets of the NCS, leading to a projected threefold increase in income compared to the current levels.”
Abejide added that “The Committee will assume oversight of the NCS’s enforcement of regulations in Export Processing Zones (EPZs) to verify compliance with legal requirements and their contribution to economic growth.
“In collaboration with the NCS Excise Department, the Committee will strive to ensure automation of production lines from raw material intake to final product output, in order to block leakages and eradicate corruption entirely.”