Lilypond Command Comptroller Ajibola Odusanya gave an update on the operations of the Nigeria Customs Service Lilypond Export Command during the first quarter of the 2024 fiscal year
As we are all aware, the year 2024 presents several challenges, and Nigeria is not immune to them.
The unstable exchange rate has had a negative impact on key sectors of the economy. However, I am pleased to announce that the Lilypond Export Command has achieved remarkable success in the first quarter of 2024.
Through our concerted efforts and strategic measures, we have facilitated the export of a wide range of commodities, leading to a significant increase in trade activity.
During Q1 2024, the Command processed a total of 5,891 (20ft and 40ft) containers, with a total value of $236,087,888.53.
These containers contained various commodities, including agricultural produce, manufactured goods, solid and extractive minerals, among others.
Here is a breakdown of the export activities:
. Agricultural Produce: We filled a total of 4,229 (20ft and 40ft) containers with agricultural produce, generating earnings amounting to USD$153,426,308.00. It is worth noting that the Nigeria Export Supervision Scheme (NESS) received a payment of ₦916,492,465.00, highlighting the significant contribution of agricultural exports to the national economy.
b. Manufactured Goods: With 629 (20ft and 40ft) containers dispatched, manufactured goods made a substantial contribution to export revenue, totaling USD$22,289,340.77.
The NESS payment to the FGN amounted to ₦112,905,501, reflecting the resilience and competitiveness of the sector in the global market.
c. Solid and Extractive Minerals: We witnessed a notable increase in the export of solid and extractive minerals, with 753 (20ft and 40ft) containers dispatched, valued at USD$34,107,959.01. The NESS payment of ₦224,162,113.74 highlights the immense potential of Nigeria’s mineral resources on the international stage.
d. Other Goods: In addition to the aforementioned commodities, we also exported various goods such as plants & machinery and personal effects in 280 (20ft and 40ft) containers, contributing USD$26,264,280.07 to export revenue.
Overall, the Nigeria Customs Service Lilypond Export Command has achieved outstanding results in the first quarter of 2024. Despite the challenges faced.
The NESS payment amounted to ₦135,771,439.38, highlighting the diverse range of Nigeria’s export portfolio.
COMPARISON WITH Q1 2023
An analysis comparing Q1 2024 to the same period in 2023 reveals a significant growth trajectory.
The total number of containers processed in Q1 2024 increased by 44% to reach 5,891 (20ft and 40ft) containers, compared to 3,784 (20ft and 40ft) containers processed in Q1 2023. This surge indicates a heightened level of trade activity at the Command.
The value of export commodities also experienced a surge of 42%, reaching USD$236,087,888.00 in Q1 2024, compared to $154,459,566.39 recorded in Q1 2023. This highlights the sustained momentum in export performance.
The NESS payment witnessed an impressive increase of 114%, reaching ₦1,389,331,520.15 in Q1 2024, compared to ₦378,268,430.57 received in Q1 2023. This increase indicates enhanced revenue generation and compliance.
The surcharge payment for plants & machinery, and imported goods doubled from NGN 8,785,188.00 in Q1 2023 to NGN 18,218,964.00 in Q1 2024, representing a 70% difference. This aligns with fiscal policy directives.
STAKEHOLDERS ENGAGEMENT
The Command has maintained an open-door policy in engaging with stakeholders and has successfully resolved numerous issues of common interest.
As the lead agency in promoting export trade facilitation, the Lilypond Export Command has consistently collaborated with relevant agencies such as the NPA, NAFDAC, NDLEA, QUARANTINE, DSS, NPF, Department of Forestry, and the Federal Produce Inspection Service.
Exporters and their agents have continuously praised the concept of joint examinations and its role in reducing cargo clearance time.
The Lilypond Export Command expresses its sincere gratitude to all stakeholders and partners for their continuous support and cooperation.
Led by Comptroller General of Customs Bashir Adewale Adeniyi MFR, we are dedicated to enhancing unity, teamwork, and creativity to guarantee smooth trade operations.
Looking ahead, the Nigeria Customs Service reiterates its commitment to enhancing trade efficiency and economic growth.
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