N135.6m realised from pre-shipment inspection

Nigeria realised a total of N135.6 million from two of the three pre-shipment inspection agencies between April and June 1987.
According to t he United Bank for Africa, UBA, monthly report for the month of November Swede Control/Intertek which is in charge of imports from the Hemisphere realised a total of N76.4 million for the country, representing an increase of 23 per cent when compared with the figure recorded for the same agency in the first quarter of this year.
According to UBA, Coteclina International Limited realised N71.2 million representing an increase of 4.76 per cent when compared with the first quarter figure.
Under the Swede Control/Intertek earning, goods not valid for foreign exchange accounted for N63.2 million while repatriable commission stood at N120,000. Negotiated savings (form M clause 9B) yielded N6.6 million. Free on Board (FOB) price reduction yielded N1.72 million, non-negotiable report of findings N1.08 million, freight reduction N880,000, post landing charge N8,000 and other charges N720,000.
With the Coteclina International, reduction in cost of good yielded N53.24 million while value of corrective action following comprehensive inspection of goods from Asia continent yielded N8.40 million. Savings on non-negotiable report of findings issued stood at N2.44 million, post landing charges N5.52 and repatriable amount due to Nigeria for commissions and services yielded N1.40 million.