KLT Customs command generates unprecedented N7.8bn revenue in July

 

…As Bomodi laments under 10% capacity utilization of terminal

The Kirikiri Lighter Terminal command of the Nigeria

Service (NCS) generated a whooping N7.8 billion in the month of July, 2023.

This, according to the command, is a departure from what hitherto obtained.

Speaking with journalists on Tuesday, the Controller, Comptroller Timi Bomodi said that the figure was the first in the history of the command.

The new sum is a quantum leap from the N3.5 to N3.6 billion that the command used to generate in six months.

“As for revenue, like I said, we are operating at less than 10 per cent capacity of the terminal, so between January and June, we have been doing an average of N3.5 to 3.6 billion monthly but remarkably, in July, for the first time in the history of the command, we were able to make N7.8 billion

“Not because necessarily, there was an increase in volume of cargo processed, rather, we tightened our revenue collection mechanism; we made our business processes more efficient.

“In a way, the exchange rate impacted on that too. We are beginning to see an uplift in our collection which is remarkable and we believe that going forward, that will be our new reality.”

The Customs boss added that the command has the potentials to increase the revenue generation of the command if the potentials are put into maximum use.

Comptroller Bomodi said that the terminal had a space that is equivalent to the big commands like Apapa and Tincan but that it was unutilised.

His words, “Kirikiri terminal has the capacity to handle 6,000 TEUs equivalent. We have phases one to four and other bonded warehouses and all these terminals are functioning at less than 10 per cent.

“What it means is that between January and June, on the average, we were collecting between N3.5 to N3.6 billion. That means we were performing at less than 10 per cent but if we are functioning at maximum capacity, which means we will be doing like N30 billion monthly.

“We have the space, we have the capacity but we don’t have the containers to make effective use of this space.

“Fortunately, we have a good collaboration with NPA in terms of improving on existing infrastructure, and currently, NPA has done a remarkable work revamping Phase 2

“We asked that it be done because we can’t be talking about attracting shipment to the command if the infrastructure is bad. So, they have improved on the terrain, they have done a lot of work and we applaud them for that,” he maintained.