The Nigeria Customs Service has generated N837bn revenue between January and July 2020.
The Comptroller-General, Hameed Ali, gave the information during the continuation of an interactive session organised by the senate joint committees on finance and national planning on the 2021-2023 Medium-Term Expenditure Framework/Fiscal Strategy Paper.
According to him, the customs service is projecting to generate N1.465tn in 2021, N1.704tn in 2022 and N1.758tn in 2023.
During the session, the CG said that the World Trade Organisation agreement and the Africa Free Trade Agreement recently signed by Nigeria would adversely affect Nigeria’s revenue generation drive in the coming years.
The two agreements, he added, will allow goods to come into Nigeria at zero tariffs.
Ali said he was not in support of a policy arrangement that makes it possible for Coca-Cola to continue to produce in Nigeria without paying anything to the government.
Reacting, the Senate President, Ahmed Lawan, described the agreement with Coca-Cola as misnomer, since the company is an international brand and a dominant player in the beverage industry.
