The Nigeria Customs Service (NCS) has reported a significant increase in revenue generation, collecting ₦1.75 trillion in the first quarter of 2025.
This represents a 29.96% increase compared to ₦1.35 trillion generated in the same period last year.
According to the Comptroller-General of Customs, Bashir Adeniyi, the revenue exceeded the quarterly target by ₦106.5 billion, achieving 106.47% of the projected target.
The NCS attributed the impressive performance to effective measures implemented to curb revenue losses and streamline compliant trade. Adeniyi highlighted that the strategy is working, citing the steady monthly collections and significant annual increase. The service collected ₦647.88 billion in January, ₦540.11 billion in February, and ₦563.52 billion in March, all exceeding their respective targets.
Despite the achievements, the NCS faced challenges, including exchange rate volatility, which affected trade patterns and customs valuation. The service recorded 62 changes in the exchange rate, ranging from ₦1,477.72 to ₦1,569.53 per US dollar. To address this, the NCS is working closely with the Central Bank of Nigeria and the Federal Ministry of Finance to stabilize the exchange rate for import declarations.
The NCS also maintained robust anti-smuggling operations, recording 298 seizures with a total Duty Paid Value (DPV) of ₦7.70 billion. This represents a 78.41% increase compared to the previous quarter. Notable seizures included rice, petroleum products, narcotics, and wildlife products. Adeniyi emphasized the service’s commitment to combating smuggling and protecting the economy and environment.
The NCS’s strategic focus in 2025 will center on modernization, including expanding the B’Odogwu platform, implementing advanced risk management systems, and integrating emerging technologies. Adeniyi emphasized transparency, stating that the public has a right to know how the customs service is performing, and the NCS aims to maintain trust through regular updates and accountability.
