Tinubu Commends Customs for Exceeding N5.07 Trillion Revenue Target in 2024
…WTO to Review Nigeria’s Trade Policy
By Patience Ikpeme
President Bola Ahmed Tinubu has praised the Nigeria Customs Service (NCS) for surpassing its 2024 revenue target of N5.07 trillion, describing it as a key agency in advancing the country’s economic transformation.
He delivered the commendation in Abuja on Wednesday at the opening of the Comptroller-General of Customs’ conference themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose,” attended by top government officials.
Represented by his National Security Adviser, Mallam Nuhu Ribadu, Tinubu noted that Customs achieved its revenue goal with over a month remaining in the fiscal year. This, he added, highlights the Service’s commitment to economic growth through significant reforms, including the advanced ruling system and the Authorized Economic Operator program.
“These initiatives align with global best practices and demonstrate how agencies can drive national economic objectives while meeting international standards. The Nigeria Customs Service has not only enhanced trade facilitation but also created a more predictable business environment, which supports our broader economic goals,” Tinubu said.
The President emphasized that the Customs Service’s performance in revenue generation strengthens the government’s ability to fund critical national projects, making Nigeria more trade-friendly through export promotion and port efficiency. He commended the Service’s efforts in balancing trade facilitation with regulatory compliance, highlighting improved border security and anti-smuggling operations.
Tinubu reaffirmed his administration’s commitment to economic growth and development, saying, “Our vision for Nigeria remains focused on positive growth for all. We are building on existing foundations while introducing necessary reforms to adapt to changing economic realities.”
In a keynote address delivered virtually, World Trade Organization (WTO) Director-General Dr. Ngozi Okonjo-Iweala advised the Nigerian government to streamline border agencies to facilitate trade more effectively. She noted that the WTO is set to review Nigeria’s trade policy to support the country’s economic growth goals.
Dr. Okonjo-Iweala highlighted areas for potential reform, including risk management, where only 1% of consignments undergo physical inspection in many developed countries, compared to 90% in Nigeria. She suggested that improving risk management, along with reducing inspection rates, would accelerate port and border clearance.
She also called for enhanced predictability in tariffs and other border measures, noting that frequent fiscal adjustments create uncertainty. Additionally, she advocated for delegating responsibilities at borders to lead agencies, which she said could simplify trade processes and improve coordination among agencies.
“Efforts to foster joint inspections have only been partially successful. We need a renewed effort to reduce the number of agencies present at the border, focusing on health, safety, and environmental protection,” she said.
In a statement, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, commended the Customs Service for its achievements. Represented by Minister of State Dr. Doris Uzoka Anite, Edun noted that Customs has made remarkable strides, not only in record revenue collection but also in advancing modernization efforts aligned with global standards. He praised the Service’s initiatives, such as automation, 24-hour cargo clearance, and the Authorized Economic Operator programme.
Customs Comptroller-General Mr. Wale Adeniyi disclosed that the Service had already collected N5.079 trillion in revenue as of November, exceeding its annual target with expectations to surpass it by 10%. He attributed this success to a collaborative strategy in revenue collection and trade facilitation.
In addition to its financial achievements, the Customs Service plans to establish a university to enhance human capital development. Adeniyi described this as a major step toward building a knowledge-driven service, aligned with the World Customs Organization’s focus on youth leadership. This initiative is part of a broader talent management program aimed at preparing officers for future leadership roles.
Adeniyi also highlighted enforcement successes, including the seizure of illicit items valued at N28.1 billion in 2024. These operations, covering arms, narcotics, and pharmaceuticals, underscore Customs’ commitment to protecting Nigeria’s economy and citizens.
“The declaration of a state of emergency at major ports led to the interception of 48 containers of illicit pharmaceuticals, disrupting the flow of harmful goods,” he said, noting that these efforts demonstrate the NCS’s proactive approach to transforming Nigeria’s customs operations and strengthening economic resilience.
