Customs Collects N4.49tr Revenue Over Past Year
By Patience Ikpeme
The Nigeria Customs Service (NCS) has achieved a remarkable revenue collection milestone, generating N4.49 trillion from June 2023 to June 2024. This represents a significant increase from the N2.58 trillion collected during the same period the previous year, marking a 74% growth.
Comptroller General of NCS, Wale Adeniyi, revealed these figures during a press briefing in Abuja, where he evaluated the achievements of his administration after one year in office. Adeniyi, appointed by President Bola Ahmed Tinubu, attributed this robust revenue performance to several strategic reforms and initiatives implemented within the service.
“Over the past year, the NCS has seen a sustained increase of 70.13% in average monthly revenue collection, with figures rising from N202 billion to N343 billion,” Adeniyi stated. He emphasized that various reforms had significantly boosted revenue, particularly during the first quarter of 2024, which saw a 122.35% increase compared to the same period the previous year.
Key initiatives contributing to this success include the Revenue Review Performance Recovery exercise, which recovered N15 billion, and the regularization of uncustomed vehicle documents, generating N2.79 billion. Additionally, the decongestion of ports led to the recovery of N1.5 billion from 1,705 overtime containers and 981 vehicles.
Highlighting the service’s exceptional performance, Adeniyi noted that on June 13, 2024, the NCS recorded a daily all-time-high of N58.5 billion in revenue collection. He credited this achievement to the deployment of officers based on merit and capacity.
In terms of enforcement, the NCS reported 63 seizures related to animal and wildlife products valued at ₦566 million. The service also made seven significant seizures of arms and ammunition and intercepted illicit drugs valued at over ₦6 billion in 127 cases involving narcotics and pharmaceutical products.
Addressing the challenges faced by Nigerian businesses due to unstable forex rate policies, Adeniyi announced ongoing collaboration with the Central Bank of Nigeria to stabilize the rate for the import of goods. This initiative aims to provide businesses with a more predictable environment for planning and operations.
On customs modernization, Adeniyi highlighted the service’s efforts to phase out manual processes in favor of automation. This move is part of a broader engagement with stakeholders to ensure the effective delivery of modernization projects.
In the realm of trade agreements, the NCS is actively working with stakeholders to maximize the benefits of the African Continental Free Trade Area (AfCFTA). The service has signed a Memorandum of Understanding with China Customs and is collaborating with Benin Customs to establish a new joint border post along the Segbana-Tsamia border at Kebbi.
Adeniyi also underscored the NCS’s commitment to national security. The service continues to collaborate with national and international agencies to share intelligence and develop frameworks to combat threats to the nation’s peace and stability.
Furthermore, efforts to decongest ports and reopen blocked access roads have significantly improved trade facilitation. These initiatives have led to an improved ranking for the NCS by the Presidential Enabling Business Environment Council (PEBEC), moving up 33 places and achieving a 100% score, a notable 81.5% increase.
As the NCS continues to drive reforms and innovations, it stands as a testament to the transformative impact of strategic leadership and commitment to national development.
