The Nigeria Customs Service (NCS) has collected a total sum of ₦6,105,315,543,489.50 (Six Trillion, One Hundred and Five Billion, Three Hundred and Fifteen Million, Five Hundred and Forty-Three Thousand, Four Hundred and Eighty-Nine Naira, Fifty Kobo), surpassing the target of ₦5,079,069,866,085.50 by ₦1,026,245,677,404.00, representing a 20.2% increase above the target in 2024.
Addressing the press on Tuesday at the NCS Corporate Headquarters in Abuja, Comptroller-General Bashir Adewale Adeniyi announced the breaking record which he attributed the success to enhanced operational strategies and collaboration with key stakeholders.
According to the CG, this remarkable achievement represents a significant 90.4% increase from the NCS 2023 collection of ₦3,206,583,002,675.65.
The revenue growth as pointed out by the Customs CG is historic as it marks the highest increase recorded by the Service in recent times, surpassing the 52.24% growth recorded in 2022 by 38.18 percentage points.
Under Federation Account Collections.
The sum of ₦3,657,063,981,445.42 was collected into the Federation Account, consisting of Import Duty, Excise Duty, Fees, E-Auction proceeds, and CET Levy.
Non-Federation Account Levies.
A total of ₦816,902,844,844.73 was collected as Non-Federation Account Levies.Value Added Tax (VAT). The Service collected ₦1,631,348,717,199.35 as VAT on imports.
It is pertinent to note that these collections were achieved despite significant concessions granted to support various sectors of the economy, totalling ₦1,682,302,648,880.67. These concessions comprised ₦723,000,081,776.68 in import duty waivers, ₦372,649,650,951.72 in other levy concessions, and ₦586,652,916,152.27 in import VAT relief. These strategic concessions were granted to stimulate economic growth, support industrial development, and enhance the overall business environment in line with government policy objectives. Notably, the 2024 concession value represents a significant reduction from the ₦3,959,868,268,993.18 recorded in 2023. This reduction is a direct result of our enhanced monitoring mechanisms and strategic reforms aimed at blocking loopholes and eliminating abuses in the concession granting process, ensuring that only genuine and qualifying enterprises benefit from these incentives” the CG said.
According to the CGC, these achievements were made possible through NCS continuous alignment with the policy objectives of His Excellency, President Bola Ahmed Tinubu, under the astute guidance of the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, and the support of Management and the entire staff of Nigeria Customs Service.
ON TRADE FACILITATION:
“At the beginning of 2024, the Service made several commitments towards modernizing our operations and enhancing service delivery. Despite our impressive revenue performance, we remained conscious of the need to strike a balance between revenue collection and trade facilitation.
On Export trade performance ,
It was equally impressive, with the total CIF value rising significantly to ₦136.65 trillion in 2024 from ₦42.77 trillion in 2023, marking a 219.5% increase. While the number of export transactions remained relatively stable at 38,199 compared to 38,294 in 2023, we witnessed a substantial increase in export volume, processing 12.35 billion kilograms in 2024 compared to 3.70 billion kilograms in 2023. This 234% increase in export mass, coupled with the higher value, indicates a robust growth in our export trade and suggests increasing competitiveness of Nigerian products in the international market.
The total trade value handled by the Service in 2024 amounted to ₦196.94 trillion, compared to ₦70.50 trillion in 2023, representing a 179.3% increase. This substantial growth in trade value, achieved with fewer but more valuable transactions, is evident of the increasing sophistication of Nigeria’s international trade and the effectiveness of our trade facilitation measures.
Our comprehensive Time Release Study has been concluded, and the report is currently under review with plans for release before the second quarter of the year. Additionally, our enhanced strategic partnerships with various Customs Administrations worldwide are yielding tangible results through intelligence sharing, leading to Major interceptions at our ports. These partnerships have also opened up capacity building opportunities for our officers and laid the groundwork for expanded engagements in the coming months.
Technological Infrastructure Advancement.
In a significant stride towards digital transformation, the Service commenced pilot testing of its indigenously developed customs clearance platform with the support of our concessionaires under the Trade Modernisation Project, named ‘B’Odogwu’, in the fourth quarter of 2024. The platform, which represents a major milestone in our digital capabilities, was initially deployed at the PTML command for pilot testing. The early results have been encouraging, with the platforms processing transactions resulting in an aggregate revenue collection of ₦31 billion as of December 2024.
Stakeholder Engagement Initiatives.
Under the framework of the global Customs community’s theme focusing on enhancing traditional and new stakeholder engagement in 2024, we intensified our engagements with existing stakeholders while forging new partnerships. We strengthened collaboration with Partner Government Agencies (PGAs) and expanded our stakeholder base through new partnerships. Notable among these was our collaboration with the Healthcare Federation of Nigeria (HFN), which led to the establishment of working relationships aimed at addressing challenges in the clearance of medical goods. This strategic partnership, supported by relevant PGAs in the health sector, aligns with President Bola Ahmed Tinubu’s administration’s policy focus on healthcare accessibility and affordability.
ANTI-SMUGGLING/ENFORCEMENT
In addition to balancing revenue collection with trade facilitation, there was also the security dimension arising from global and national actors that impacted the Service mandate to protect the society from the entry of harmful substances and the exit of restricted items. NCS adapted its strategies to these evolving security challenges resulting in the 3,555 seizures throughout the year, with a dramatic 100.92% increase in the Duty Paid Value (DPV) of seizures from ₦17.56 billion in 2023 to ₦35.29 billion in 2024. These seizures, with a Cost, Insurance, and Freight (CIF) value of ₦28.46 billion and total duty of ₦6.83 billion, highlights the scale of attempted economic sabotage prevented by the Service. The recorded seizures included traditional and emerging risks to Nigeria’s Economic and overall national Security.
Particularly noteworthy were the seizures of arms and ammunition, including 900 arms and 113,472 rounds of ammunition and the interception of narcotics and other illicit drugs, resulting in 105 seizures across various forms that was aided by the declaration of a state of emergency at our major entry points. The Service also intercepted unauthorized pharmaceutical products, with 40 seizures including 175,676 pieces and 6,271 cartons of various medicaments valued at ₦3.04 billion, protecting public health from potentially dangerous counterfeit drugs. The Service’s enforcement activities also revealed evolving patterns in environmental and wildlife crimes, with 76 seizures of animal/wildlife products valued at ₦5.93 billion. We also maintained vigilance over trade-sensitive goods, as evidenced by the seizure of 183,527 bags of rice. Additionally, significant seizures were made of other restricted items including 3,785 bales of textiles valued at ₦945.9 million, and various quantities of footwear, beverages, and other consumer goods, protecting local industries and supporting the governm
2025 OUTLOOK AND REMARKS
Comptroller-General Adeniyi reaffirmed the NCS’s commitment to supporting Nigeria’s economic growth, fostering global trade partnerships, and bolstering national security.
“Our achievements in 2024 are a testament to our unwavering dedication to excellence. We will continue to build on this foundation to deliver even greater results in the coming year,” he stated.
The CGC commended President Bola Ahmed Tinubu’s administration and the Minister of Finance, Mr. Olawale Edun, for their support in enabling these achievements.
To our stakeholders, the trading community, partner government agencies, international partners, and the media - your collaboration and support have been invaluable. The achievements of 2024 are as much yours as they are ours. We count on your continued support as we pursue our modernization agenda and strive to meet our objectives for 2025.
The CG finally call on all stakeholders to strengthen their partnership with the Service as we work towards achieving our mandate. Together, we can build a more secure and prosperous Nigeria through effective customs administration and trade facilitation.
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