The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi has announced an ambitious revenue target of ₦6.58 trillion for 2025, following a record collection of ₦6.1 trillion in 2024.
Mr. Adeniyi disclosed this on Tuesday in Abuja while updating the public on the activities and achievements of the Nigeria Customs Service for the year 2024. Stating, “Our achievements in revenue collection reflect our commitment to enhancing trade facilitation and enforcement activities,” Adeniyi stated.
The NCS’s impressive performance in 2024 included a 90.4% increase from the previous year, with significant contributions from the Federation Account, non-federation levies, and Value Added Tax (VAT). He said that these results were achieved despite granting ₦1.68 trillion in concessions to support various sectors of the economy.
In addition to revenue goals, the NCS is set to launch the Nigeria Customs Service University for Trade and Technology in Badagry, Lagos. This institution aims to become a center of excellence for customs and trade-related studies, enhancing capacity building in Nigeria and the West African region. “The university will play a crucial role in equipping our workforce with the necessary skills to meet evolving customs challenges,” Adeniyi noted.
The NCS also reported a significant increase in trade value, processing imports worth ₦60.29 trillion in 2024, marking a 117.4% rise from the previous year. “Our export trade performance was equally impressive, with a total CIF value rising to ₦136.65 trillion,” he added, highlighting Nigeria’s growing competitiveness in international markets.
On enforcement, the NCS recorded 3,555 seizures with a Duty Paid Value of ₦35.29 billion, including arms, narcotics, and counterfeit drugs. “Our comprehensive approach to enforcement positions the NCS as a crucial actor in the nation’s security architecture,” Adeniyi said.
As the NCS prepares for 2025, it aims to focus on trade modernization, enhanced risk management, and the operationalisation of its new university. “Together, we can build a more secure and prosperous Nigeria through effective customs administration,” Adeniyi added.
