Nigeria Customs Service Surpasses 2024 Revenue Target Of 5.07 Trillion

Nigeria Customs Service says it has surpassed its 2024 revenue target of 5.07 trillion by 10 percent.

Says revenue figure underscores the positive impact of stakeholder collaboration and modernised customs systems.

List rolling out 24-hour cargo clearance initiative at key ports amongst major reforms that aided its record-breaking achievement. 

Other major reforms included launching a one-stop cargo alert system, and streamlining examination protocols.

Nigeria Customs boss earlier pledged to surpass its 2024 target, which is 27.75% higher than 2023 revenue target.

The Nigeria Customs Service (NCS) says it has achieved more than its 2024 revenue target of N5.07 trillion, a milestone that it said reflected the Service’s ongoing dedication to trade facilitation and economic growth.

CGC Bashir Adewale Adeniyi made the NCS’s record-breaking achievement known while speaking at the 2024 Comptroller-General of Customs Conference in Abuja, noting that the revenue collection has surpassed the target by 10 percent.

According to CGC Adeniyi, this revenue figure underscores the positive impact of stakeholder collaboration and modernised customs systems.

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“This accomplishment aligns with President Bola Ahmed Tinubu’s economic transformation agenda and showcases our commitment to a transparent and efficient customs system,” he added.

He said major reforms that aided NCS’s record-breaking achievement included rolling out a 24-hour cargo clearance initiative at key ports, launching a one-stop cargo alert system, and streamlining examination protocols.

“Additionally, the Service has introduced the Authorized Economic Operator (AEO) scheme, selecting initial participants who have demonstrated exceptional compliance with customs regulations,” he stated.

It will be recalled that Customs boss, while defending the 2024 budget of N706.43 billion in March, pledged to surpass the revenue target of N5.079 trillion in 2024, which he noted is 27.75 percent higher than the revenue target of 2023.

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