4,229 Containers of Agric Produce Exported in Q1

Non-Oil Export

4,229 Containers of Agric Produce Exported in Q1 – Customs

The Nigeria Customs Service, Lilypond Export Command, has revealed that 4,229 containers carrying agricultural produce worth $153m were exported first quarter of 2024.

According to the Area Controller in charge of the command, Ajibola Odusanya, 629 containers of manufactured goods worth $22.2m were exported by the command during the period under review.

In a statement on Tuesday, he disclosed that the Nigeria Export Supervision Scheme payment to the Federal Government amounted to N112m, reflecting the sector’s resilience and competitiveness in the global market.

Odusanya added that within the period under review, the command processed a total of 5,891 containers valued at $236m.

“These comprise diverse commodities, such as agricultural produce, manufactured goods, solid and extractive minerals, among others.

“The NESS received a payment of N916m underscoring the robust contribution of agricultural exports to the national economy, he stated.

According to Odusanya, the export of solid and extractive minerals witnessed a notable upsurge, with 753 containers dispatched, valued at $34m.

“The NESS payment of ₦224m highlighted the immense potential of Nigeria’s mineral resources on the international stage.

“Additionally, various goods, such as plants & machinery, and personal effects, were exported in 280 containers, contributing $26n to the export revenue. A NESS payment of ₦135m was made, emphasising the diversified nature of Nigeria’s export portfolio.” the CAC added.

However, the CAC said that a comparative analysis revealed a substantial growth trajectory in Q1 2024 compared to the corresponding period in 2023.

“Total containers processed in 2024 Q1 surged by 44 per cent to reach 5,891 containers as against 3,784 containers processed in 2023 Q1, signifying heightened trade activity at the command.

“Value of export commodities also surged by 42 per cent to $236m as against $154m recorded in 2023 Q1, underlining the sustained momentum in export performance,” Odusanya asserted.

He explained that the NESS payment witnessed an impressive 114 per cent increase, reaching ₦1.3bn from N378m received in the first quarter of 2023.

“Surcharge payment for plants & machinery, and imported goods doubled from N8.7m in 2023 Q1 to N18.2m in 2024 Q1, representing a 70 per cent difference, aligning with fiscal policy directives,” he stated.

He thanked stakeholders at the command for their collaborative efforts and synergy while the command was carrying out its statutory mandate.

“The command will continue to leverage on your contributions and corporations to ensure efficient service delivery to the nation,” he concluded.

The Nigerian Ports Authority, a few months ago, affirmed the designation of the Lilypond Container Terminal in Ijora, Lagos, as a specialised processing and handling facility for the exportation of locally made finished and agricultural goods.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : EconomicConfidential – https://economicconfidential.com/2024/04/containers-agric-produce/?utm_source=rss&utm_medium=rss&utm_campaign=containers-agric-produce