Tin Can Port generates N274.3b in H1 2022
By Jeph Ajobaju, Chief Copy Editor
Tin Can Island Port in Lagos generated N274.3 billion revenue for the Nigeria Customs Service (NCS) in half year 2022 (H1 2022), a 27.5 per cent rise on N229.3 billion in H1 2021, according Customs Area Controller Olakunle Oloyede.
He said cargo exported through the port increased 73 per cent Year-on-Year (YoY) with Free-On-Board (FOB) value of N100.4 billion, a 60 per cent compared with N66.3 billion in 2021.
“Tin-can Island Command has so far experienced an increase in export activities for the first half of the fiscal year 2022.
“The Command recorded an outward throughput in export cargo of 138,246.50 metric tonnes representing an increase by 73 per cent from 100,500 metric tonnes recorded in 2021, with an F.O.B value of N100.4 billion,” Oloyede disclosed, per Vanguard.
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Four Commands generate N778.77b
Apapa Area 1 Command, Port Harcourt Area 2 Command, Ports Terminal Multi-Services Limited (PTML) Command, and Kirikiri Lighter Terminal (KLT) Command generated a total N778.77 billion revenue in H1 2022 against N563.75 billion in H1 2021, according to Vanguard.
- Apapa Port – N522.4 billion, up 42.54 per cent on N366.5 billion in H1 2021.
- Onne Port – N115.2 billion against N78 billion in H1 2021.
- PTML – N117. 57 billion, up 12.3 per cent on N104.65 billion in H1 2021
- KLT – N23.6 billion, 38 per cent above N14.6 billion in H1 2021.
NCS Apapa Area 1 Controller Malanta Yusuf said in line with the government’s effort to diversify the economy, the Command recorded a boom in the export of non-oil commodities with about 2.5 million mt, up on 540 mt in 2021.
FOB value of exported items rose to $138 million from $1.6 million in H1 2021.
“This feat was made possible because of our officers’ resilience in ensuring identified revenue leakages have been mitigated while sustaining the level of compliance by the importers/stakeholders in the clearance value chain,” Yusuf added.
“Items exported include steel bars, agricultural and mineral products amongst others. The federal government policy and export incentive schemes have played vital roles in boosting export trade in Nigeria.”