The Minister of Finance, Mr. Olawale Edun, has commended the Nigeria Customs Service (NCS) for its instrumental role in driving the Federal Government’s economic recovery efforts, as Nigeria targets a ₦48 trillion expenditure in the 2025 budget.
Speaking during the 61st quarterly board meeting of the NCS on Wednesday, December 18, at the Customs House in Maitama, Abuja, Mr. Edun emphasized the agency’s importance in achieving the projected ₦35 trillion revenue, as outlined in the proposed budget, tagged “A Budget of Restoration.”
Highlighting the agency’s impressive performance, the Minister disclosed that the NCS had generated over ₦5 trillion in revenue by November 2024. He attributed the achievement to reforms introduced by President Bola Ahmed Tinubu’s administration, which have strengthened revenue generation frameworks across key sectors.
To address the ₦13 trillion funding gap in the proposed budget, Mr. Edun announced plans to secure concessionary loans, grants, and development support from international partners.
The board meeting reviewed significant milestones achieved by the NCS in 2024. These included the recruitment of 3,927 officers to address manpower gaps and the approval of special promotions for top-performing personnel. The measures are expected to enhance trade facilitation and further strengthen the agency’s anti-smuggling operations.
Mr. Edun noted that the NCS has been at the forefront of suppressing smuggling and fostering trade, which are critical to economic growth and job creation.
The Finance Minister urged Customs officers to remain committed to their duties, highlighting the agency’s vital role in poverty alleviation and fostering sustainable development.
“The NCS has demonstrated exceptional dedication to its mandate. Its efforts are pivotal for achieving national economic goals and ensuring inclusive growth,” he remarked.
The proposed 2025 budget, recently presented to the National Assembly by President Tinubu, represents a bold plan to restore and accelerate economic development in Nigeria.
