Senate Scrutinises Nigeria Customs Service Over 2025 Budget, Sets Ambitious ₦10 Trillion Revenue Target.
The Nigeria Customs Service (NCS) faced intense scrutiny from the Senate Committee on Customs and Excise on Monday during its 2025 budget defence, where it proposed a ₦6.584 trillion revenue target and ₦1.132 trillion expenditure plan. In a bold directive, the Senate instructed the NCS to raise its revenue goal to ₦10 trillion, citing the agency’s strong performance in 2024 as proof of its potential.
The session, held at the National Assembly in Abuja, saw Deputy Comptroller-General Jibo Bello, representing Comptroller-General Bashir Adewale Adeniyi, highlight the NCS’s 2024 achievements. The agency exceeded its ₦5.079 trillion revenue target by over ₦1 trillion, earning commendation from the committee, chaired by Senator Isah Jibrin (APC, Kogi East). “The NCS has shown remarkable capacity,” Senator Jibrin said, urging the agency to leverage this success to meet the new ₦10 trillion target for 2025.
The Senate’s push reflects concerns over Nigeria’s economic challenges, with lawmakers stressing the need for robust revenue generation to tackle smuggling and insecurity. Senator Jibrin called for intensified border surveillance to curb the influx of illicit drugs and arms. “The NCS must enhance its efforts to secure our borders and boost revenue,” he stated.
The proposed 2025 budget allocates ₦3.853 trillion to the federation account, ₦1.081 billion for non-federation purposes, and ₦1.650 trillion from import VAT. However, the NCS faced questions over a 21.2% increase in expenditure compared to 2024. Bello explained that only ₦290 billion of the approved ₦706 billion for 2024 was received, due to the suspension of a 4% Free-On-Board (FOB) funding mechanism in the new Customs Act.
To achieve the ₦10 trillion target, Senator Jibrin advocated for deploying advanced scanners across Customs formations and modern surveillance equipment. “Timely clearance and efficient operations will create a conducive trade environment and drive revenue,” he said.
The Senate Committee approved the NCS’s proposed ₦6.584 trillion revenue target and ₦1.132 trillion expenditure for 2025, with the revised ₦10 trillion target set for final approval by the Senate plenary this week, following the Sallah recess.
In a related development, the Nigerian Ports Authority (NPA) projected a ₦1.279 trillion revenue target for 2025, a 40% increase over its 2024 target of ₦865 billion, which it surpassed. The NPA remitted ₦400 billion to the Consolidated Revenue Fund in 2024, nearly doubling its 2023 contribution.
As Nigeria navigates economic pressures, the Senate’s ambitious targets underscore its focus on fiscal resilience. The NCS now faces the challenge of meeting these expectations while strengthening border security and trade efficiency.
