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 Committee on Custom and Excise, Rep. Leke Joseph Abejide, briefed the House on the content of the report.
Recommendations in the report were considered and approved by the House.
The approved recommendations includes 7% cost of collection for 2022 of N151, 841,862,748.00 only, being projected revenue available to the service.
Also, that the 2% VAT share for 2022 of NCS from N14,939,292,151.00 only, available to the service be approved for the Nigeria Customs Service.
“That the 60% share of the comprehensive Import Supervision Scheme (CISS) of N60,121,256,556.00 only, for the 2022 intervention fund from (CISS) be approved for the Nigeria Customs Service.
“That the retained income of N114,385,486,833.00) only be approved for the Nigeria Customs Service for 2022 fiscal year.
“That Share of Excess Target (in 2021) of N27,848,192,362.00 only be approved for the Nigeria Customs Service for 2022 fiscal year.
“That the total Personnel Cost of N108,853,901,275.62 only be approved for the Nigeria Customs Service for the 2022 fiscal year.
“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.
“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.”
