Nigeria Customs crosses N5.1 trillion revenue target for 2024- Comptroller-General 

The Nigeria Customs Service (NCS) has met and is projected to exceed its revenue target of N5.1 trillion for 2024, according to Comptroller-General Adewale Adeniyi.

Announcing the milestone at the Comptroller-General Conference (CGC) on Wednesday, Adeniyi highlighted the agency’s exceptional performance as evidence of its strategy in enhancing revenue through advanced stakeholder collaboration and modernization efforts.

“On November 12, 2024, at precisely 1:10 pm, the NCS achieved its NGN 5.07 trillion revenue target, a full month ahead of year-end,” Adeniyi stated. He added, “This achievement validates our focus on partnership-driven approaches to revenue collection and trade facilitation and is set to exceed our goal by at least 10%.” 

Adeniyi emphasized that this success extends beyond revenue figures, showcasing the tangible impact of the NCS’s modernization initiatives, including streamlined processes and updated risk management practices.

• The service, he noted, is reaping substantial benefits from several reforms, most notably the Authorised Economic Operators (AEO) scheme, which now includes six participants in its pilot phase.

• Additionally, the advanced ruling system—implemented to offer predictive rulings for stakeholders—processed 31 requests by October, with 12 final rulings delivered.

• One of the key measures cited in this year’s operational improvements was the introduction of 24-hour cargo clearance at major ports, a move that significantly reduced cargo dwell time.

• Adeniyi also highlighted the completion of Nigeria’s first “release study,” which provided data-driven insights aimed at improving the NCS’s efficiency.

The deployment of non-intrusive inspection technology at ports, part of the agency’s enhanced risk management system, has accelerated cargo clearance while maintaining stringent controls, he said.

What to know 

Beyond revenue and efficiency, Adeniyi reaffirmed the NCS’s dedication to enforcement. He cited seizures valued at NGN 28.1 billion in 2024, including high-risk items such as wildlife products, arms, narcotics, and illicit pharmaceuticals.

• A major development in enforcement this year was the declaration of a state of emergency at key ports, which led to the interception of 48 containers carrying prohibited pharmaceutical items and narcotics.
• Reflecting on the theme of the conference, “NCS: Engaging Traditional and New Partners with Purpose,” Adeniyi stated the importance of cross-sector collaboration in addressing customs challenges in an evolving economic environment.
• He remarked that the agency would leverage insights from stakeholders at the conference to refine its strategic focus for the coming year, particularly in nurturing the next generation of customs leaders.

The conference covers key topics including revenue collection, trade facilitation, partnership expansion, and compliance enhancement. Adeniyi expressed optimism that the insights shared would position the NCS to build on its successes and continue driving efficiencies within Nigeria’s customs and trade infrastructure.