The Nigeria Customs Service (NCS) has achieved a remarkable milestone, collecting over ₦6.1 trillion in revenue for the year 2024, significantly surpassed its target of ₦5.08 trillion. This was disclosed by the Comptroller-General of Customs, Bashir Adewale Adeniyi, during a press briefing at the NCS Corporate Headquarters in Maitama, Abuja.
In his address, Adeniyi highlighted the historic progression of customs revenue collection in Nigeria, tracing its roots back to 1891. He noted the steady growth over the decades, culminating in the recent record-breaking achievements.
For 2024, the NCS collected a total of ₦6,105,315,543,489.50, marking a 20.2% increase above its target and a significant 90.4% rise from the 2023 collection of ₦3.2 trillion. This performance marks the highest year-on-year increase recorded by the Service in recent times.
Adeniyi attributed the success to strategic reforms and enhanced monitoring mechanisms, emphasized that despite significant concessions to support various economic sectors, the NCS maintained a strong revenue performance. The Service granted concessions worth ₦1.68 trillion in 2024, a substantial reduction from the previous year’s ₦3.96 trillion, thanks to tightened controls.
The Comptroller-General also highlighted achievements in trade facilitation, noted a 117.4% increase in the Cost, Insurance, and Freight (CIF) value of imports and a 219.5% rise in exports, signaling a robust growth in Nigeria’s international trade.
In the area of enforcement, the NCS recorded 3,555 seizures in 2024, with a Duty Paid Value (DPV) of ₦35.29 billion, a 100.92% increase from the previous year. Notable seizures included arms, ammunition, narcotics, and unauthorized pharmaceutical products, underscoring the Service’s commitment to national security.
Adeniyi reaffirmed the NCS’s dedication to modernizing its operations and enhancing service delivery through various initiatives, including the launch of an indigenously developed customs clearance platform and the implementation of the Advanced Ruling System and the Authorized Economic Operator (AEO) program.
The NCS’s achievements in 2024, as outlined by Adeniyi, underscored its pivotal role in Nigeria’s economic growth, trade facilitation, and national security, setting a strong foundation for continued success in 2025.
