When he came before it on Monday in Abuja, the committee's chairman, Representative Abubakar Bichi, pleaded with the Comptroller General of NCS, Adewale Adeniyi, to consider raising the intended N5 trillion.
"Is there a chance to boost your revenue?" Bichi asked. If you are able to reach N6 trillion in revenue for 2024, we will be quite happy.
Bichi stated that until the revenue-generating agencies raised their planned revenue, President Bola Tinubu's renewed hope program would not be realized.
He praised the president's 2024 appropriations bill, but pointed out that it wouldn't happen until there was sufficient funding to cover the N27.5 trillion request.
In response, the CG expressed optimism about raising income to N6 trillion by 2024. Thus, N6 trillion in income is conceivable in 2024.
However, he stated that the NCS might be able to obtain the N6 trillion in revenue if the Federal Government was able to address the problem surrounding concession grants in 2024.
He claims that the new law would also assist us in facilitating other matters that will enable the collection of money.
Waivers are one of those areas where he says, "it is one of those areas where this kind of revenue for 2024 is achievable," with a scowl.
He declared, "If we can raise N1.8 trillion in a single year, it proves that the N6 trillion in revenue for 2024 is doable."
Many of the products in the ports, he added, had not yet been cleared. He also mentioned that several bills had not been opened when the NCS examined its system.
He added that there were still many products that needed to be approved, but an internal assessment revealed that the NCS had made almost N11 billion from that effort.
He mentioned that there was money from customs sitting in some of the uncleared products.
Speaking about the import tariff exemption, Adeniyi stated that the minister of finance is typically in charge of it and that it falls under presidential authority.
He added that the Import Duty Exception Certificate (IDEC) cost the agency N1.8 trillion in 2023. Excise made up 18% of total revenue in that same year.