Korede Abdullah in Lagos
The Nigerian Customs Service (NCS) has announced a remarkable revenue generation of N4.2 trillion in the first nine months of 2024, surpassing its revenue collection for 2022 and 2023.
This achievement was disclosed by Comptroller General Bashir Adeniyi at a workshop in Lagos, where he was represented by Comptroller Customs Area Controller, Tincan Island Port Command, Dera Nnadi.
According to Adeniyi, the NCS aims to exceed its 2024 target of 5.3trillion by the end of the year, demonstrating the service’s commitment to leveraging digital technology to enhance revenue collection.
“What this means is that we have already surpassed our 2023 collection by over N1 trillion even though the year has not yet ended. This will enable you to understand the enormity of the progress that we have made leveraging digital technology.
The significant progress made is attributed to the deployment of digitalization, ICT, and innovation in the NCS business process.
In comparison, the NCS collected N2.6 trillion in 2022, and this year’s collection has already surpassed the 2023 revenue by over N1 trillion.
“Let me also try to relate this to our 2022 revenue. The Service was able to collect N2.6 Trillion in 2022. So, you can see that we are making steady progress, and this is possible because we are deploying digitalization, ICT and innovation in our business process”, he stated.
This impressive growth underscores the effectiveness of the NCS’s strategies in boosting revenue generation.
The NCS’s revenue performance is also reflected in its half-year report, which showed a collection of N2.74 trillion, exceeding the half-year target of N2.54 trillion.
Additionally, the Tincan Island Port Command generated over N229 billion in the first half of 2024. These achievements demonstrate the NCS’s dedication to enhancing revenue collection and promoting trade facilitation.
The Federal Inland Revenue Service reported a total revenue generation of N12.37 trillion in 2023, providing context for the NCS’s impressive revenue growth.
As the NCS continues to innovate and improve its processes, it is likely to play a significant role in contributing to Nigeria’s revenue growth.
