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Customs Generates N1.3tr In 2019, Exceeds Target By N404bn - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Customs Generates N1.3tr In 2019, Exceeds Target By N404bn (18124 Views)

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Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by ReeLoaDead(m): 4:41pm On Jan 12, 2020
Commentor:
Same reason America borrows.
so why is America’s economy and per capita GDP better then Nigeria’s?
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Nobody: 4:41pm On Jan 12, 2020
Yet, the redundant coupist keeps plunging the shithole into GENERATIONAL DEBTS?....

Pathetic filth!

1 Like

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Chukwurah003: 4:41pm On Jan 12, 2020
PDP would never have made that much because they will steal it all

1 Like 1 Share

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Chukwurah003: 4:42pm On Jan 12, 2020
Seenyo:
Yet, the redundant coupist keeps plunging the shithole into GENERATIONAL DEBTS?....

Pathetic filth!

Your bitterness has not even started. PDP criminals. grin

1 Like

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by bluefilm: 4:42pm On Jan 12, 2020
Sai Baba!!!
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by WeRblessed(f): 4:43pm On Jan 12, 2020
Still no good Road
No Healthcare
No constant electricity
No salary paid
No new job creation by the federal government
Buhari still borrowing

What a lost nation!
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Chukwurah003: 4:44pm On Jan 12, 2020
bigiyaro:
everyday we'll be all these bull shit, we want also hear how the money was spent.

Some people are angry because Nigeria is doing well. Una pain never even start. cheesy

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Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by jaxxy(m): 4:44pm On Jan 12, 2020
hmohammed:


This is a very sack analysis. Abi you people no go school. Did you earn custom revenue in dollars. Why the need for conversion


Customs deals with importation and what currency do we majorly or globally import in naira or dollars?

With how high the dollar is now the revenue shud be much higher not lower unless there has been less activity.

1 Like

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Chukwurah003: 4:44pm On Jan 12, 2020
WeRblessed:
Still no good Road
No Healthcare
No constant electricity
No salary paid
No new job creation by the federal government
Buhari still borrowing

What a lost nation!

Ignorance is truly bliss. PDP criminals everywhere
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by ebube89(f): 4:44pm On Jan 12, 2020
helinues:


Why should you be using dollars rate for internal revenue? Are we spending dollars in Nigeria?

Is N1.3tr same as your N978bn?

you need to understand how custom works.
they collect a percentage (custom duty) of the Cost value Of all goods imported into d country and use d exchange rate (dollar, pounds, Euro) to calculate how much to charge each individual/organization importing any item into d country.

so if tomorrow 1dollar exchanges to 500Naira, they will naturally generate more in local currency (Naira)

3 Likes

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by OROSUNBOLB(m): 4:45pm On Jan 12, 2020
How has that impacted the common man on the street ? They are generating billions ,yet the impact is not felt by ordinary Nigerians. The likes of Hanna and her siblings will celebrate this in Aso rock as it means more public funds to lavish anyhow!

1 Like

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Angelfrost(m): 4:45pm On Jan 12, 2020
Davash222:
Good.
So, why is Buhari borrowing

That's because certain pressing expenditures can't wait for full revenue generation...
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by GamaINasser: 4:47pm On Jan 12, 2020
GamaINasser:


In 2014 customs revenue was 5.9 billion dollars and today it 3.6 billion dollars and you are saying col Ali is needed for progress ...Did you guys go to any school at all?
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Josephmumu03: 4:48pm On Jan 12, 2020
Mumu talk then why are we still borrowing?
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by hmohammed(m): 4:50pm On Jan 12, 2020
jaxxy:



Customs deals with importation and what currency do we majorly or globally import in naira or dollars?

Do you pay dollars to Nigeria customs. I believe we pay naira and not dollars. There is no need for the fx conversion. Lets praise this government whenever they get it right. Simple!

1 Like

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Witchersunited: 4:51pm On Jan 12, 2020
GamalNasser:
Convert this figure to dollars you will see the Nigerian customs of has been in reality earning less since 2014 .. in 2014 Nigerians customs revenue was 978. Billion naira and when converted into 2014 dollar it comes to 5.9 billion dollars and the compare with a conversion of 2019 revenue of 1.3 trillion naira which comes to 3.6 billion dollars meaning there is a drop in value of 2.3 billion dollars which means the customs is actually earning far less ... Buhari is a total failure
they didn't collect 978billion 2014

Show evidence
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Asour: 4:51pm On Jan 12, 2020
GamalNasser:


Because of failed leaders like Buhari who don't understand values all useless currencies are benchmarked against the value of the a more stable currency like the dollar ...why didnt your Buhari borrow from China in Chinese Yen or Naira ...Value is what a sane mind measures not all these trillion toilet paper nonsense that only bamboozles dullards


You have a point but it is not totally fair to use this point for ANY reasonable performance assessments.

For one, at the Micro/Agency level the NCS should not be assessed by any index for which their operations exert no control over directly.

In absolute terms if the NCS yielded more revenue Year on Year (growth%) vs 2018 AND it did so with efficiency (i.e. its cost/revenue ratio in 2019 is less than or equal to that of 2018) The Agency has FINANCIALLY performed.

If you want to dig deeper again you may adopt a base year, Say 2014, or any other and determine an inflation index with which to reassess this 2019 Revenue figures with.

Adopting your approach of "Dollarization" of Financial metrics would be too GRIM a perspective.

By your approach for instance, Vs 2014 $ exchange rate virtually All Nigerian companies failed and by extension all Nigerian employees performed poorly(i.e. are failures) perhaps including yourself.

At a Macro level though it might be okay to look at this Metric for political banter (for the President's opposition) as it helps them amplify his failed attempt at improving our exchange rate situation.

I don't believe any 8 year tenured Nigerian President can Improve our exchange rate situation though as the fall too never happened overnight.

Exchange generally improves with Robustness of an economy, Increased Value added— in Manufacturing and Increased investment in human capacity Over at least 2,3,4 decades to a point of reasonable international economic competitiveness.

Or do you reckon there is a Potential Nigerian President sitting somewhere now who can RAMP up our exchange rate to US$ to N1 in 4 to 5 years (even though the current president funnily impliedly promised to achieve same) ?

Good help us.

3 Likes

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by castiello(m): 4:52pm On Jan 12, 2020
Na you no go school was dollars 360ngn in 2014?

GamalNasser:


In 2014 customs revenue was 5.9 billion dollars and today it 3.6 billion dollars and you are saying col Ali is needed for progress ...Did you guys go to any school at all?

1 Like

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Davash222(m): 4:53pm On Jan 12, 2020
Angelfrost:


That's because certain pressing expenditures can't wait for full revenue generation...
So, after borrowing and the revenues are fully generated, what then happens
Do they pack back from the generated revenues??
You just wan make I vex this evening
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by alphaNomega: 4:55pm On Jan 12, 2020
GamalNasser:
Convert this figure to dollars you will see the Nigerian customs of has been in reality earning less since 2014 .. in 2014 Nigerians customs revenue was 978. Billion naira and when converted into 2014 dollar it comes to 5.9 billion dollars and the compare with a conversion of 2019 revenue of 1.3 trillion naira which comes to 3.6 billion dollars meaning there is a drop in value of 2.3 billion dollars which means the customs is actually earning far less ... Buhari is a total failure

You sabi the code

When this fucking APC government want to impress us, they quote the money in naira.

Fucking baastards

1 Like

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by mafnv17: 4:55pm On Jan 12, 2020
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Agugbadin: 4:55pm On Jan 12, 2020
Where is the money, what was the money used for and why are we still borrowing
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by akin9ja78(m): 4:56pm On Jan 12, 2020
Recruite more youth now
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Nobody: 4:57pm On Jan 12, 2020
Chukwurah003:


Your bitterness has not even started. PDP criminals. grin
for the records, i campaigned/voted buhari in 2015 but dude proved to be a gross/compound fiasco & i don't support failure/stupidity!
F*ck your apc/pdp cos you all are SAME self-serving THIEVES!

& finally, damn your mentally mal-functional mother for birthing a brain-dead simpleton like you!

Useless baaaaaaaaaaaaaastard of a thousand fathers! Bring it on...foooooooooooooool!
I've got ur time.....

2 Likes 1 Share

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by jaxxy(m): 4:58pm On Jan 12, 2020
hmohammed:


Do you pay dollars to Nigeria customs. I believe we pay naira and not dollars. There is no need for the fx conversion. Lets praise this government whenever they get it right. Simple!

We talking about foreign revenue so I think the dollars comes into play, I want to
Praise this government trust me, I want them to impress me bt we need to be fair and analyze things properly and probably do proper comparisons. This is not to say they have not tried bt in reality it’s still a drop.
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Smartiyke: 4:59pm On Jan 12, 2020
With all that achievement yet VAT was increased, electric bill was increased and hunger is every where
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by collitexnaira(m): 4:59pm On Jan 12, 2020
helinues:


That's the reason we closed our borders so that we can be self sufficient by producing our local needs while making Naira strong more than before via exporting..

And by the way, hope you are aware Chinese Yen is more useless compared to Nigeria Naira.

Oga, 1 yen is 55 naira

So tell me how chinese yen is more useless compared to Nigeria naira

Next time get your fact right before you start saying what you don't know in public

2 Likes

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by MickzyDonald: 5:02pm On Jan 12, 2020
No wonder the boss are always fat
I remember when my grandma was still a custom �
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Udemyacc: 5:02pm On Jan 12, 2020
We want transparency smiley


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I can give you access to premium courses for 2,500naira. Check my signaturr
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by grandstar(m): 5:03pm On Jan 12, 2020
helinues:


Stop listening to Radio biafra for your source of information, Una no go gree.

Nigeria customs generated less than N1tr in 2014

You are echoing his own words. The Naira was much stronger then at 155 hence the higher revenue when converted to dollars. In real terms therefore, 2014 revenues were higher.

3 Likes 1 Share

Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by oyepera91: 5:05pm On Jan 12, 2020
[Exactly.. why using Dollars as years stick.. ]

Why should you be using dollars rate for internal revenue? Are we spending dollars in Nigeria?

Is N1.3tr same as your N978bn?

[/quote]
Re: Customs Generates N1.3tr In 2019, Exceeds Target By N404bn by Angelfrost(m): 5:06pm On Jan 12, 2020
Davash222:

So, after borrowing and the revenues are fully generated, what then happens
Do they pack back from the generated revenues??
You just wan make I vex this evening

That's where checks and balance come in... Generated income ought to go into debt servicing (and bailout if possible), national savings, where necessary further projects, etc... Think entrepreneurship and business!!!

It is just sad that this nation has been in a habit of mismanaging generated revenue for donkey years. This is why we don't seem to be moving forward.

Guy, you no fit vex pass me jare... I don tire.

1 Like

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