Customs Generates N1.75tr in Q1 2025
…Delivers Food Relief through Duty Waivers
By Patience Ikpeme
The Nigeria Customs Service (NCS) generated N1.75 trillion in revenue in the first quarter of 2025, exceeding its quarterly target by N106.5 billion, according to the Comptroller General, Mr. Wale Adeniyi.
Speaking during a media briefing on Tuesday, Adeniyi attributed part of the agency’s performance to the federal government’s ongoing food security interventions. He disclosed that the Service granted N95.1 billion in duty exemptions on essential food items between 2024 and Q1 2025, contributing to recent price drops in maize, rice, and sorghum.
He said the waivers were aligned with the federal government’s efforts to make staple foods more affordable, noting that these policies have helped reduce prices by 12–18% this year.
Adeniyi provided a breakdown of the duty waivers granted in Q1 2025, which include N45.3 billion (FOB) on maize, N751.6 million on rice, and N2.3 billion on sorghum. Additionally, earlier exemptions in 2024 on rice (N45.9 billion) and wheat (N2.8 billion) are now reflecting fully in market prices, having gradually worked through the supply chain.
“The 2024 measures initially took time to impact the markets but eventually improved supply. This year’s waivers provided additional support. Together, these actions have stabilized prices at different points, improving food availability,” Adeniyi said. “The data from the National Bureau of Statistics backs this up, showing how food prices have eased over time.”
He cited improvements in cargo clearance through the B’Odogwu platform and growing participation in the Authorized Economic Operators (AEO) programme as examples of measures delivering tangible results.
The NCS recorded a 29.96% revenue increase compared to the same period in 2024, when it collected N1.35 trillion. January 2025 led the quarter with N647.88 billion, exceeding its monthly target by 18.12% and showing a 65.77% year-on-year growth. February posted N540.11 billion (1.3% above target), while March yielded N563.52 billion (2.7% above target).
“These results confirm that our strategy to curb revenue leakages while facilitating trade is working. We’ll continue enforcing compliance and enhancing partnerships to maintain this momentum,” Adeniyi said.
The Service made 298 seizures in Q1 2025, with a Duty Paid Value (DPV) of N7.7 billion—up 78.41% from N4.31 billion in Q4 2024. However, compared to Q1 2024’s N9.59 billion DPV, there was a 19.70% decline.
Rice remained the most seized commodity, with 159 cases involving 135,474 bags valued at N939.3 million. Petroleum products followed with 61 cases totaling 65,819 litres, valued at N43.3 million.
Adeniyi also drew attention to 22 narcotics seizures worth N730.7 million and three high-value wildlife product interceptions with a DPV of N5.65 billion. These, he said, reflect the Service’s commitment to environmental protection under international conventions.
Other seizures included textile fabrics (13 cases, N134.2 million), retreaded tyres (5 cases, N104.6 million), and pharmaceuticals (1 case, N17.2 million).
In Q1 2025, the Service processed 327,928 Single Goods Declarations (SGDs) for imports, representing a 5.28% increase from Q1 2024. The total mass of imports processed reached 4.91 billion kilograms—a 40.14% rise from last year—while the CIF value climbed to N14.81 trillion, up 26.72%.
Exports for the quarter amounted to 8,153 SGDs, a 6.4% drop from Q4 2024 and a 24.4% decline from Q1 2024. Still, the total export mass reached 5.03 billion kilograms, a significant 348% increase from Q1 2024, indicating a shift toward bulk commodity exports. The CIF value of exports stood at N21.51 trillion, showing a 19% increase over Q4 2024 and remaining steady compared to Q1 2024.
“These figures show that even with fewer transactions, we are processing much larger shipments. It reflects not only changing trade dynamics but also greater efficiency in our export systems,” Adeniyi explained.
Total trade handled by the Service in Q1 2025 stood at N36.3 trillion, reflecting Nigeria’s robust participation in international commerce despite prevailing global economic headwinds.
Among the key milestones recorded during the period were the expansion of the B’Odogwu electronic clearance platform and the rollout of the Authorized Economic Operators programme, aimed at streamlining trade for compliant businesses.
Adeniyi noted that the Service had to contend with significant exchange rate volatility, which continues to affect trade patterns and customs valuation.
“During the quarter, we observed 62 exchange rate changes, ranging from N1,477.72 to N1,569.53 per USD, with an average of N1,521.59. Although this marks a slight moderation from the previous quarter’s peak of N1,688.28, the frequent changes still create uncertainty for importers,” he said.
The Service is collaborating with the Central Bank of Nigeria and the Federal Ministry of Finance to adopt measures that can help stabilize the exchange rate, particularly as it applies to customs declarations.
