ZAINAB JUNAID
Just as the Nigeria Customs Service (NCS) achieved historic revenue collection of ₦6,105,315,543,489.50 for the year 2024, surpassing its target of ₦5,079,069,866,085.50 by ₦1,026,245,677,404.00, the Federal Government has set a new benchmark for the NCS, with a revenue target of ₦6.58 trillion for the year 2025.
This new target is a reflection of the government’s confidence in the Service’s ability to continue delivering exceptional results.
During a briefing held at the NCS’s new Headquarters in Lake Taac, Maitama, Abuja, on Tuesday, 24 January 2025, the Comptroller ‘General of Customs, Bashir Adewale Adeniyi MFR said NCS’s success in surpassing its 2024 revenue target depicts a 20.2% increase above the target and a 90.4% increase from the 2023 collection of ₦3,206,583,002,675.65, and it is a significant achievement, considering the challenging economic environment.
He said the Service’s ability to adapt to changing circumstances and implement effective strategies has been instrumental in achieving this milestone.
To him, the growth is historic as it marks the highest Year-on-Year increase recorded by the Service in recent times, surpassing the 52.24% growth recorded in 2022 by 38.18 percentage points.
Adeniyi noted that the Service achieved great milestone in October 2024 by recording the highest monthly collection ever of ₦603,171,859,991.97.
“The total revenue collected for 2024 comprises three main components: Federation Account Collections. The sum of ₦3,657,063,981,445.42 was collected into the Federation Account, consisting of Import Duty, Excise Duty, Fees, E-Auction proceeds, and CET Levy; Non-Federation Account Levies. A total of ₦816,902,844,844.73 was collected as Non-Federation Account Levies; Value Added Tax (VAT). The Service collected ₦1,631,348,717,199.35 as VAT on imports,” he added.
Speaking further, Adeniyi informed that the figures recorded were successfully achieved despite significant concessions granted to support various sectors of the economy, totaling ₦1,682,302,648,880.67.
Adeniyi noted that the concessions comprised ₦723,000,081,776.68 in import duty waivers, ₦372,649,650,951.72 in other levy concessions, and ₦586,652,916,152.27 in import VAT relief.
“These strategic concessions were granted to stimulate economic growth, support industrial development, and enhance the overall business environment in line with government policy objectives. Notably, the 2024 concession value represents a significant reduction from the ₦3,959,868,268,993.18 recorded in 2023.
“This reduction is a direct result of our enhanced monitoring mechanisms and strategic reforms aimed at blocking loopholes and eliminating abuses in the concession granting process, ensuring that only genuine and qualifying enterprises benefit from these incentives,” he explained.
Adeniyi equally informed that the historic feats were made possible through the continuous alignment with the policy objectives of President Bola Ahmed Tinubu, under the astute guidance of the Honourable Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, and the support of Management and the entire staff of Nigeria Customs Service.
The Service also recorded significant successes in its anti-smuggling operations, seizing 1,716,656 litres of petroleum products from saboteurs attempting to divert them to neighboring countries.
These seizures are a testament to the Service’s unwavering commitment to protecting Nigeria’s economic interests and preventing the loss of vital revenue, the CGC said.
The NCS has also made notable strides in dismantling the criminal networks behind these diversion activities, arresting 55 suspects who are currently under investigation.
By adopting a multi-faceted approach to enforcement, the NCS is playing a critical role in safeguarding national security while facilitating legitimate trade.
Looking ahead to 2025, Adeniyi informed that the Service is set to launch a comprehensive Corporate Social Responsibility (CSR) programme strategically aligned with President Bola Ahmed Tinubu’s Presidential Priority Areas and the United Nations Sustainable Development Goals (SDGs).
This alignment he affirmed, will ensure the Service community interventions contribute meaningfully to national development priorities while supporting global sustainability objectives.
“The programme has been structured to deliver measurable impact in key areas that intersect with both national priorities and community needs.
“Our strategic priorities for 2025 will focus on five key areas: Full deployment of our trade modernization initiatives, including the nationwide rollout of the B’Odogwu platform; Complete implementation of the Authorized Economic Operator (AEO) programme; Enhancement of our risk management and enforcement capabilities through technology integration; Operationalization of the Nigeria Customs Service University for Trade and Technology; Strengthening of our international partnerships and trade facilitation initiatives under the AfCFTA framework; Implementation and roll out of a robust CSR strategy aligned with the pillars of the Presidential Priority Areas and the Sustainable Development Goals; Promotion of open governance through enhanced transparency, stakeholder engagement, and public access to customs information and processes,” he revealed.
Still speaking, “Several transformative projects are scheduled for completion or initiation in 2025. The full operationalization of our new Corporate Headquarters, the deployment of additional scanning systems at key ports, and the launch of our comprehensive Corporate Social Responsibility programme will be prioritized. These projects, alongside our ongoing modernization efforts, will significantly enhance our operational capabilities and service delivery.
“Our modernization agenda will continue to emphasize digital transformation and process automation. The expansion of our geo-spatial surveillance capabilities, integration of artificial intelligence in risk management, and enhancement of our data analytics capabilities will remain central to our efforts. These technological advancements will be complemented by continued investments in human capital development and infrastructure improvement.
“We recognize that achieving these objectives requires the continued support of our stakeholders and the dedication of our officers. We are confident that with our enhanced capabilities, committed workforce, and the support of all stakeholders, we will not only meet but exceed expectations in 2025,” he added.
