The Nigerian Customs Service has announced its targets to generate six point five hundred and eighty four trillion naira in the 2025 financial year.
The Deputy Comptroller General of Customs in charge of Finance, Administration and Technical Services DCG Bello Muhammed Jibo, gave the breakdown at the budget defense of the Service at the House of Representatives.
He said that the Revenue target for the year 2025 is based on the Medium-Term Revenue Framework (MTRF) approved by the National Assembly.
“ The revenue target for NCS for the 2025 financial year is set at N6.584 Trillion, consisting of N3.853 Trillion for Federation, N1.081 Billion for Non-Federation and N1.650 Trillion for Import VAT“. He said.
The DCP also noted that the Management of the Nigeria Customs Service is considerably determined to ensure that the 2025 to 2027 Fiscal strategy plan scales through successfully.
To achieve the set targets, the following strategies are put in place:
- The Customs modernisation project, with the introduction of the newly launched Unified Customs Information System, provides a platform for full automation of all Customs procedures, which is expected to enhance revenue collection efficiency.
- The Service’s Management is intensifying its efforts to achieve more effective revenue recovery interventions.
- The collaboration with the WCO in developing an operational manual for PCA, there will be a better approach to revenue recoveries through the PCA, Systems Audit and Valuation.
- The Nigeria Customs Service has implemented the Authorized Economic Operator (AEO) and Advanced Rulings programme, and consequently developed and built same into its operations.
This, no doubt will boost the trade facilitation drive, enhance the release time of goods, improve the turnover time of Import and Export, and increase revenue generation as well
To tackle the menace of revenue leakages through smuggling, stakeholder engagements remain a striking agenda of the management of the Nigeria Customs Service.
Hence, the Service seeks to engage more relevant authorities to ensure effective collaboration and security along the national borders.
” The introduction of more scanners across most Customs formations and the adoption of surveillance equipment will aid better revenue generation in 2025 and going forward.
” With accelerated clearance and timely release of goods, the floating exchange will remain favourable to trade.
” Other measures such as the re-introduction of Excise on Telecomm services and Single-Used Plastics policies are highly recommended‘. He said.
He however said that the effect of currency floatation that results in unfavourable trade volume and the expected revenue inflow affected the service.
The Chairman, House Committee On Customs And Excise Mr Leke Abejide, said that he was astonished, surprised and lack of word to express the level of poor funding of Nigeria Customs Service which made the level of their performance on Personnel cost to stand at 43.53%.
” Overhead cost at 46.34% and Capital project performance at 45.68% despite the service surpassing the target of 2024 which was #5.079 Trillion and you eventually generated and accounted for #6.105 Trillion representing an increase of #1.026 Trillion or 20.21% in 2024.
This committee would like to know despite outperforming your target yet you could not fund your Personnel cost, Overhead cost and Capital projects both New and Ongoing projects.
Another shocking revelation is that from January to December in 2024 the 60% of the 1% comprehensive import suspension scheme (CISS) which was part of the revenue source to fund your overhead, personnel cost and capital projects recorded zero revenue to your cover“. Mr. Abejide said .
He also directed the Service to start the collection of 4% Comprehensive Import Suspension Scheme, CISS to fund themselves.
“I have gone through your 2024 Budget performance and was flabbergasted, astonished, surprised and lack of word to express the level of poor funding of Nigeria Customs Service,” he said.
He pointed out that despite the Customs generating ₦6.105 trillion in 2024—exceeding its ₦5.079 trillion target by ₦1.026 trillion or 20.21%—its actual funding for essential operational areas remained below .
According to Abejide, performance on personnel cost stood at 43.53%, overhead at 46.34%, and capital project execution at just 45.68%.
This committee would like to know, despite outperforming your target, yet you could not fund your Personnel cost, Overhead cost, and Capital projects both New and Ongoing projects,” he added.
Victoria Ibanga