GamalNasser:
Convert this figure to dollars you will see the Nigerian customs of has been in reality earning less since 2014 .. in 2014 Nigerians customs revenue was 978. Billion naira and when converted into 2014 dollar it comes to 5.9 billion dollars and the compare with a conversion of 2019 revenue of 1.3 trillion naira which comes to 3.6 billion dollars meaning there is a drop in value of 2.3 billion dollars which means the customs is actually earning far less ... Buhari is a total failure

They are earning less because Nigerians are importing less due to the 2014 recession.

Not a buhari problem.

GamalNasser:
Convert this figure to dollars you will see the Nigerian customs of has been in reality earning less since 2014 .. in 2014 Nigerians customs revenue was 978. Billion naira and when converted into 2014 dollar it comes to 5.9 billion dollars and the compare with a conversion of 2019 revenue of 1.3 trillion naira which comes to 3.6 billion dollars meaning there is a drop in value of 2.3 billion dollars which means the customs is actually earning far less ... Buhari is a total failure

They are earning less because Nigerians are importing less due to the 2014 recession.

buhari is not the cause.

Well done NCS

GamalNasser:
Convert this figure to dollars you will see the Nigerian customs of has been in reality earning less since 2014 .. in 2014 Nigerians customs revenue was 978. Billion naira and when converted into 2014 dollar it comes to 5.9 billion dollars and the compare with a conversion of 2019 revenue of 1.3 trillion naira which comes to 3.6 billion dollars meaning there is a drop in value of 2.3 billion dollars which means the customs is actually earning far less ... Buhari is a total failure

Most times i feel lay back to respond to inept mischievous analysis like this your write up.
However I am burdened to do so cus of those gullible kids you might be misleading out of your own obvious bitterness. And also to broaden your scope of critical analysis.

Common sense should have informed you that the importation which is the major source of customs revenue has dropped by 40% since 2014 due to the items on the exclusive list. Nevertheless, the NCS have managed to generate this much, means a lot of effort in the revenue drive and blockage of loopholes which is the old order.

Davash222:
Good.
So, why is Buhari borrowing

A good question that suggest is either someone is lieing or not telling the truth..

Money stolen from Igbo traders

helinues:


Why should you be using dollars rate for internal revenue? Are we spending dollars in Nigeria?

Is N1.3tr same as your N978bn?

y
Hello Sir, it's FIRS that generates internal revenue not Nigeria Customs. The revenue generated by customs are from imported goods which are valued in USD. Customs charge a particular rate on each imported commodity based on the dollar value, hence the reason why all revenues by customs must be valued in USD and later converted to naira. The guy you quoted is right, the 2019 revenue is nothing compared to 2014 revenue going by prevailing exchange rates that is applicable. If someone generated $10,000 in 2014 and the exchange rate was #165, the the naira equivalent will be #1,650,000 but if someone else generate $7,000 in 2019 and using the official exchange rate of #305 (let's rule out the actual exchange rate of #361/$1), the naira equivalent will be #2,135,000. To an uninformed person, the 2019 performance was far better than 2014 performance, if you judge by naira value but but to a more informed individual who digs deeper, he/she will know that the revenue was initially based on USD but later converted to naira. The peeps at the helms of affairs knew all these that's why they intentionally gave you the values in naira. Don't allow anybody to pull the wool over your eyes. Shine your eyes and use your brain.

GamalNasser:
Convert this figure to dollars you will see the Nigerian customs of has been in reality earning less since 2014 .. in 2014 Nigerians customs revenue was 978. Billion naira and when converted into 2014 dollar it comes to 5.9 billion dollars and the compare with a conversion of 2019 revenue of 1.3 trillion naira which comes to 3.6 billion dollars meaning there is a drop in value of 2.3 billion dollars which means the customs is actually earning far less ... Buhari is a total failure

Wow! So much was generated in 2014 under that administration. You must be living in glass house by now built for you by the 2014 admnistration, with tiled roads surrounding it.. 24 hours power and clean water running. Wow!

these are the kind of things dat makes me appreciate Buhari.....even though messes up sometimes

What did the Govt used it for then... I am not impressed

Bossontop:

Abeg where all dis money dey go because e nor dey show for naija body at all

seems you read my mind....thumbs up

Davash222:
Good.
So, why is Buhari borrowing

Believe everything you hear from the APC at your own peril. All they are saying is just paper work. The only they know how to do best, is to borrow and borrow. Nothing more.

https://twitter.com/BudgITng/status/1215580772444274689?s=20

This is the report from the Budget office so I wonder where the 1.3tr is coming from

https:///DmEtUiKEva?amp=1

See the report from CBN and then u would know this 1.3tr is audio money

And where is the money.

The president's is using what's meant for all of us to massage her obsession.
Prosperity will judge that General in Agbada

ReeLoaDead:
so why is America’s economy and per capita GDP better then Nigeria’s?

Because most Nigerians are unproductive.

ManirBK:


https://www.dailytrust.com.ng/customs-generates-n1-3tr-in-2019-exceeds-target-by-n404bn.html?

As they generate more n more money, nigerians get poorer.

Interesting.

helinues:


Why should you be using dollars rate for internal revenue? Are we spending dollars in Nigeria?

Is N1.3tr same as your N978bn?

Yikes!!! This comment is hilarious!!! .

Please, read wetin you type again

Chukwurah003:


Some people are angry because Nigeria is doing well. Una pain never even start.

for ur tiny mind, Nigeria is doing well, metcheeeww, I don't blame u sha, lack of exposure is to blame.

ebube89:

you need to understand how custom works.
they collect a percentage (custom duty) of the Cost value Of all goods imported into d country and use d exchange rate (dollar, pounds, Euro) to calculate how much to charge each individual/organization importing any item into d country.

so if tomorrow 1dollar exchanges to 500Naira, they will naturally generate more in local currency (Naira)

Why do you guys hate good news?

The target of the customs was surpassed by half a trillion Naira despite a stable currency.

How could that be a bad thing ?

Chukwurah003:


Some people are angry because Nigeria is doing well. Una pain never even start.

I have never seen so many bitter people in a country before.

hmohammed:


This is a very sack analysis. Abi you people no go school. Did you earn custom revenue in dollars? Why the need for conversion

Ask yourself why china give loans in Chinese Yen, but in dollars.

joyandfaith:


we are interested in amount remitted to federation account, not only revenue.

Where do you expect the Federal government to get money remitted to it's account from, aside revenue
Expanciate!!!

kabawa:


Where do you expect the Federal government to get money remitted to it's account from, aside revenue
Expanciate!!!

usually those agencies keep on telling us amount they generated yearly but they are not telling us operating cost of generating those revenue or running those agencies. I think the public is interested in amount being remitted to faac.

helinues:




And by the way, hope you are aware Chinese Yen is more useless compared to Nigeria Naira.

More useless yet a Chinese Yuan is worth 52Naira. Please how do you define "Useless compared to Nigeria Naira"?

GamalNasser:


Did we really earn more ? You guys went to school please put your brains to use

No of course especially if converted to dollars vis-a-vis earnings in the last administration

GamalNasser:
Convert this figure to dollars you will see the Nigerian customs of has been in reality earning less since 2014 .. in 2014 Nigerians customs revenue was 978. Billion naira and when converted into 2014 dollar it comes to 5.9 billion dollars and the compare with a conversion of 2019 revenue of 1.3 trillion naira which comes to 3.6 billion dollars meaning there is a drop in value of 2.3 billion dollars which means the customs is actually earning far less ... Buhari is a total failure

Y dont u use naira value to measure USA achievement....mumu dey worry you....

decoderdgenius:
This is classic "1984" , a book by George Orwell. Read the book and no longer be deceived by the lies of politicians.

Meanwhile, check out my signature on tips to strengthen your business even in this "audio revenue increase" economy

Nothing on ur signature sir

ManirBK:


https://www.dailytrust.com.ng/customs-generates-n1-3tr-in-2019-exceeds-target-by-n404bn.html?

This is how they will be hyping Ali until someone takes over only to discover that it was all cook up figures, this administration n magumagu na 5&6.

GamalNasser:


You see why I maintain you are not smart ? Did I say dey generated above 1 trillion in 2014 ? In 2014 the generated 978 billion naira which was equivalent to 5.9 billion dollars then and your failed Buhari is generating 1.3 trillion naira which his equivalent to 3.6 billion dollars today ..I hope you can rally your brain to see my point this time bro

If you are are going to compare revenues between then and now, you should at least clearly express the reasons why the dollar figure was more than today.

The currency value then and now are not the same so it's very mischievous and disingenuous on your part to throw out numbers and differences while ignoring or failing to address the differences in currency value then and now which is the ultimate reason for the difference and of course a few other reasons like ban on certain imports.


Bottom line regardless of your half backed and deceptive argument, the Nigerian customs generated more now than 2014.

plaindealer:



If you are are going to compare revenues between then and now, you should at least clearly express the reasons why the dollar figure was more than today.

The currency value then and now are not the same so it's very mischievous and disingenuous on your part to throw out numbers and differences while ignoring or failing to address the differences in currency value then and now which is the ultimate reason for the difference and of course a few other reasons like ban on certain imports.


Bottom line regardless of your half backed and deceptive argument, the Nigerian customs generated more now than 2014.

You are not smart.not smart