The Area Controller of Lagos Free Trade Zones (LFTZ) Command of the Nigeria Customs Service (NCS), Comptroller Olarenwaju Olumoh, has announced that as at 18th of December, 2024 , the command has generated a revenue of N341 billion which surpasses N74 billion that was generated in 2023.
He made this known at the command’s end of the year ceremony in Lagos on 19th December, 2024.
He noted that at the beginning of the year 2024, the command had a revolutionary plan to surpass last year’s target and that has been achieved with the efforts of officers of the command and stakeholders.
While noting the achievements of the command, Olumoh announced that the service has solved the issue of accommodation for its officers as approval for the acquisition of six units duplexes has been received.
Comptroller Olumoh seized the opportunity to thank stakeholders and sister agencies for their commitment. He reaffirmed that the command does not generate revenue only but is also in the business of preventing illicit items from coming into the country.
“As at the beginning of 2024, the Lagos Free Trade Zone Command had a revolutionary plan for the year and to the glory of God, as at yesterday, the 18th of December, the command met the year’s target and generated a revenue of N341 billion surpassing last year’s revenue of N74 billion.
“Beyond generation of revenue and preventing illicit items from entering the country, there is the need to make the command attractive for investors and we have created an enabling conducive environment for investors to come.
” The issue of accommodation shall no longer be a challenge for our officers in the command.All thanks to the Comptroller General of Customs , Bashir Adewale Adeniyi for graciously approving the acquisition of six units of duplexes.That has significantly reduced the burden of accommodation. It is with my conviction and prayer that steps are already being taken by the agency and management for the command to have its own permanent structure.”
The Deputy Comptroller General of Excise, Free Trade Zone & Industrial Incentives, B.U Nwafor , who represented the CGC in her goodwill message, described Comptroller Olarenwaju olumoh as someone who has not compromised in generating revenue and in ensuring that the welfare of officers attached to the command is prioritised as he has generated mind blowing revenues that she never knew was possible.
She described the zone as a country within a country as it is a designated trade area.
“LFTZ is like a country within a country. Don’t think that Free Trade Zone is free, it’s just a designated area that is cut out to push economic growth with benefits.Please take advantage of it.With the level of compliance and revenue generation in the zone last year ,70% of the revenue was generated from the free zone.”
