Nigeria Customs boss, CG Wale B Adeniyi (MFR)
A strong indication emerged yesterday from the hierarchy of the Nigerian Customs Service (NCS) showing that it cannot make the 2025 revenue target of N12tn jointly set for it by the Joint Committee of National Assembly.
Business Hilights recalls that on January 14, 2025 during the defence of her 2025 budget, the national assembly joint committee on finance has increased the revenue projection of the Nigeria Customs Service (NCS) from N6.5 trillion to N12 trillion for 2025.
Sani Musa, chairman of the senate committee on finance, and James Faleke, his house of representatives counterpart, raised the revenue target on Tuesday during the budget defence by Adewale Adeniyi, comptroller general (CG) of NCS, for the 2025 fiscal year.
In his presentation, Adeniyi said having generated N6.1 trillion in 2024, the service will comfortably generate N6.5 trillion in 2025.
But the committee, in their separate remarks, told the customs CG that the 2025 projected revenue should be far above N6.5 trillion.
However, in his press briefing on Tuesday in Abuja, the CcG, Bashir Adewale Adeniyi revealed that Customs’ Q1 2025 revenue rose by 30% to N1.75 trillion. The Nigeria Customs Service (NCS) disclosed on Tuesday that it recorded a 29.96 percent increase in revenue collection in the first quarter of 2025, generating N1.75 trillion compared to N1.34 trillion over the same period in 2024.
