As Command Posts N10.5b Revenue

Following review of economic activities of the outgone first quarter of 2023, the Kirikiri Lighter Terminal (KLT) Command of the Nigeria Customs Service, NCS, has disclosed that it collected the sum of NI0,572,518,271 revenue between January and March 2023, making a 76.87% of its expected revenue for the period.

The command has further disclosed that it made recovery of revenue of N68.5m from issuance of debit notes on questionable cargo processes.

Notwithstanding these efforts, the Customs Area Controller, Comptroller Timi Bomodi is of the view that the Command has the capacity to do more.

According to the KLT CAC “While we acknowledge the impact of monetary policy changes and the effect of exchange rates on business, the overall effect has been a downturn in import volume, which accounts for the outcomes we have”

“Nonetheless,  all hands are on deck to safeguard and protect all revenue accruable from import and export trade, to this effect Demand Notices to the tune of N68.5m has been raised to shore up the shortfall in revenue”, the CAC assured.

In a press release by the Command Public Relations Officer, SC JT Ayagbalo,  Comptroller Bomodi said since the command began operation as an export processing terminal, there is an expected improvement in exports through KLT.

 “Prior to this period, KLTC was used as a transit hub for exports. However, since the establishment of an export processing terminal, all export procedures have since commenced in the Command with an anticipated increase in export volume.” Bomodi said

The CAC further notes that with the establishment of a clinic for the Command earlier in the year which was commissioned by the ACG Zone ‘A’ on behalf of the CGC, the well-being of officers  have been significantly impacted, as all health-related challenges are given prompt attention before they are referred to other facilities.

Bomodi adds that the command is coming out of some of the challenges affecting its optimal performance such as operational and environmental challenges.

“Kirikiri Lighter Terminal Command has a strategic advantage over other ports in Lagos, its unique location allows for immediate entry and exit, unlike other ports where there is an average waiting time of seven days. Its major impediment is the draft which restricts the direct berth of sea-going vessels. This challenge has recently been overcome with the introduction of ocean-going lighter barges with the capacity of moving over 200 TEU’s.

“KLT has an installed capacity of handling about 6,000 TEIU’ s but presently it is functioning at less than 10% of its installed capacity and there is a lot of room for growth. With the commissioning of a few new terminals and the promise of increased cargo allocation, we are hopeful of a positive turnaround in activities both for imports and exports as we believe that as trade volume increases, so will the revenue profile” the KLT Controller emphasized.