Customs set record with ₦6.1 trillion revenue in 2024
The Nigeria Customs Service (NCS) has achieved an unprecedented milestone, generating ₦6.105 trillion in revenue for the year 2024. This outstanding figure exceeds the Service’s initial target of ₦5.08 trillion by a remarkable ₦1.03 trillion, reflecting a 20.2% increase.
Announcing the achievement at a press briefing held at the NCS Corporate Headquarters in Maitama, Abuja, the Comptroller General of Customs, Bashir Adewale Adeniyi, described the feat as a testament to the Service’s commitment to excellence and innovation.
“This achievement represents a 90.4% increase from the ₦3.21 trillion recorded in 2023, making it a landmark year for the Nigeria Customs Service,” Adeniyi stated.
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The Comptroller General attributed the success to several factors, including strategic reforms, improved efficiency, and the adoption of cutting-edge digital technologies to enhance revenue collection processes while minimising leakages.
Additionally, the NCS noted a significant reduction in concession values, which fell from ₦3.96 trillion in 2023 to ₦1.68 trillion in 2024. Adeniyi explained that this was achieved through rigorous monitoring and reforms aimed at addressing potential abuses within the concession system.
The Service’s leadership further highlighted the impact of these measures on Nigeria’s fiscal landscape. Adeniyi emphasised that the reforms not only improved revenue collection but also strengthened trade facilitation and border security, boosting confidence in the Customs Service as a vital institution for national development.
He commended the unwavering dedication of customs officers across the country, whose professionalism and integrity were pivotal to achieving the milestone.
“This record-breaking performance underscores our commitment to driving economic growth and fostering a robust financial system,” Adeniyi added.
The achievement positions the Nigeria Customs Service as a critical contributor to the nation’s economy, paving the way for further advancements in revenue generation and operational efficiency.
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