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The House of Representatives has approved N369.1 billion as the budget of the Nigerian Customs Service for the year ending 31st December 2022.
The House approved the budget on Tuesday as members considered the report of the Committee on Customs and Excise on the money bill during plenary in Abuja.
The session, which was presided over by the Deputy Speaker, Rep. Ahmed Idris Wase, passed N214.29 bn for capital projects; N108.85 bn as personnel costs; and N45.89 bn for overhead costs.
Shortly before lawmakers, in the Committee on Supply, considered and approved the budget, the Chairman of the committee, Rep. Leke Joseph Abejide, briefed the House on the content of the report.
Some of the recommendations considered and approved by the House are reproduced below.
(i) That the 7% cost of collection for 2022 of One Hundred and Fifty-One Billion, Eight Hundred and FortyOne Million, Eight Hundred and Sixty-Two Thousand, Seven Hundred and Forty-Eight Naira (N151, 841,862,748.00) only, being projected revenue available to the service be approved for the Nigeria Customs Service;
(ii) That the 2% VAT share for 2022 of NCS from Fourteen Billion, Nine Hundred and Thirty-Nine Million, Two Hundred and Ninety-Two Thousand, One Hundred and Fifty-One Naira (N14,939,292,151.00) only, available to the service be approved for the Nigeria Customs Service;
(iii) That the 60% share of the comprehensive Import Supervision Scheme (CISS) of Sixty Billion, One Hundred and Twenty-One Million, Two Hundred and Fifty-Six Thousand, Five Hundred and Fifty-Six Naira (N60,121,256,556.00) only, for the 2022 intervention fund from (CISS) be approved for the Nigeria Customs Service;
(iv) That the Retained income of One Hundred and Fourteen Billion, Three Hundred and Eighty-Five Million, Four Hundred and Eighty-Six Thousand, Eight Hundred and Thirty-Three Naira (N114,385,486,833.00) only, be approved for the Nigeria Customs Service for 2022 fiscal year;
(v) That Share of Excess Target (in 2021) of Twenty-Seven Billion, Eight Hundred and Forty-Eight Million, One Hundred and Ninety-Two Thousand, Three Hundred and Sixty-Two Naira (N27,848,192,362.00) only, be approved for the Nigeria Customs Service for 2022 fiscal year;
(vi) That the total Personnel Cost of One Hundred and Eight Billion, Eight Hundred and Fifty-Three Million, Nine Hundred and One Thousand, Two Hundred and Seventy-Five Naira Sixty-Two Kobo (N108,853,901,275.62) only, be approved for the Nigeria Customs Service for the 2022 fiscal year;
(vii) That the total Overhead Cost of Forty-Five Billion, Eight Hundred and Ninety-Six Million, Eight Hundred and Seven Thousand, Nine Hundred and Ninety-Three Naira Eighty-One Kobo (N45,896,807,993.81) only, be approved for the Nigeria Customs Service for the 2022 fiscal year;
(Viii) That the total Capital Cost of Two Hundred and Fourteen Billion, Two Hundred and Ninety-Four Million, Two Hundred and Sixty-Nine Thousand, Nine Hundred and Forty-Five Naira Seventy-Three Kobo (N214,294,269,945.73) only, be approved for Nigeria Customs Service for the 2022 fiscal year.”… Continue reading
