The Sea Empowerment and Research Centre (SEREC) on Monday called on the Nigeria Customs Service (NCS) to imbibe policies that support the growth of the manufacturing and export sectors of Nigeria.
The Head Researcher at SEREC, Eugene Nweke, made the call in an interview with the News Agency of Nigeria (NAN) in Abuja.
Nweke urged the NCS to focus on broader economic implications, such as revenue optimisation, digital transformation, and stakeholder engagement amid the call to generate more revenue.
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He emphasised the importance of maintaining a balance between revenue generation and economic growth, adding that while revenue is crucial, the pressure to meet higher targets could negatively impact the manufacturing and export sectors.
NAN recalls that the Senate Committee on Customs recently directed the NCS, during its 2025 budget defence, to raise its revenue target from ₦6.58 trillion to ₦10 trillion.
The government’s tariff policy also took centre stage during the defence, as the committee flagged gaps and criticised the lack of enforcement of the four per cent Freight on Board (FOB) charges, tied to the cost of goods.
Read also: Manufacturers warn return of Customs’ FOB charge could trigger economic fallout
“In aligning these policy thrusts with broader economic implications, SEREC urges the Comptroller-General (C-G), Adewale Adeniyi, to focus on support for trade facilitation.
“The current inflationary trends in the country also require careful consideration, and policies should be adjusted accordingly to mitigate their impact on the economy, “ he said.
He expressed confidence that aligning with these policy thrusts would promote economic growth, stability, and prosperity, while delivering real value to the nation.
