The sharp rise in the exchange rate of the US Dollars as against the Naira has had untold effect on imports. Items affected mostly are bulk cargoes imported into the country through Apapa Port Complex.
Presently, more and more importers are now struggling with the biting effect of the continuous rise of Dollars in the parallel market on imports.
To cap it all, the Apapa Area Command of the Nigerian Customs Service has raised the alarm of massive drop in revenue collection on bulk cargo importation from the Lagos Ports Complex (LPC).
He said the drop on the commodities as regards import is affecting revenue collection of the service
Customs Area Controller ,Comptroller Willy Egbudin raised the alarm when members, Maritime Correspondent Organisation of Nigeria (MARCON) paid a courtesy visit to the command in Lagos .
Comptroller Egbudin reiterated that the Area Command under Apapa port is notable for bulk cargo importation but added that in the last couple of years, there has been a sharp drop on bulk cargo importation to the port, which in turn has also affected revenue collection of the command.
According to him, bulk cargo importation is the major items that boost revenue collection of the command from inception.
The former Lilypond and Seme Command boss pointed out that from the figure collected so far, bulk cargoes alone stood at N5.6billion from the total N23.4billion revenue collected for January 2016.
He however described the N5.6 billion collected a lean figure as against corresponding years.
He also said other importation generated by the command stood at N17.7billion.
In 2014, he said the command realise N301 billion as revenue but in 2015 it slightly came down to N288billion and an estimated 400billion is demanded from the command annually.
The customs boss noted because of the dwindling fortune of importation,the command has experienced a major setback.
“Since we realise that the bulk cargoes are no longer coming the way it suppose to be,we are no looking inward to ensure that revenue are not loss in other goods”
“We are now making even more revenue in containerised and other cargoes imported to Apapa port”.
He noted that Tin Can Island port handles over 60% of containerised imports while Apapa port handles less than 40% of the same items.
“We are actually doing our best here inspite of the ugly odds, we are trying to make sure we don’t loss sight in revenue generation”, he added.
Egbudin stated that the target set aside for the command might be difficult to achieve but the command will do its best to ensure that substantial amount of revenue is generated for the federal government.
Speaking further , he added that between February 1st and 15th 2016, the command has already collected a whooping N10.7billion stressing that the second month of every year is always difficult, coupled with the fact that exchange rate is biting hard on importers.