The Nigeria Customs Service (NCS) has reported a significant surge in revenue, reaching a total of N4.49 trillion over the past year, marking a 74% increase from the previous year.
This was announced by the Comptroller-General of NCS, Adewale Adeniyi, during a press briefing in Abuja to celebrate his one-year anniversary in office.
In his address, CGC Adeniyi attributed this remarkable achievement to enhanced enforcement measures, improved automation processes, and stronger stakeholder engagement.
The NCS’s revenue collection from June 2023 to May 2024 substantially exceeded the N2.58 trillion collected in the corresponding period of the previous year.
“The NCS reported a remarkable 74% growth in revenue collection over the past year, recording a total revenue collection of N4.49 trillion between June 2023 and May 2024, compared to the N2.58 trillion collected during the corresponding period of the previous year,” Adeniyi said.
Adeniyi detailed the strategic initiatives that underpinned this success, highlighting a 70.13% increase in average monthly revenue collection compared to the previous year.
The NCS averaged N343 billion in monthly collections, a significant rise from the N202 billion monthly average previously recorded.
Particularly notable was the 122.35% increase in revenue during the first quarter of 2024 compared to the same period in 2023.
He added that the revenue review performance recovery exercise brought in N15 billion, while the 90-day window for regularizing the documents of uncustomed vehicles yielded N2.79 billion.
Additionally, decongesting the ports of 1,705 overtime containers and 981 vehicles resulted in a recovery of N1.5 billion. On June 13, 2024, the NCS set a new daily revenue collection record with N58.5 billion.
Adeniyi also emphasized the NCS’s efforts in trade facilitation, noting the significant impact of decongesting ports and reopening previously inaccessible access roads.
He credited these measures, along with federal government support and stakeholder cooperation, for the service’s improved ranking under the Presidential Enabling Business Environment Council (PEBEC).
“Between 2020 and 2022, the NCS maintained an average percentage score of 18.45%, ranking 28th out of the 37 MDAs ranked.
By 2023, the NCS ranking fell further to 34th out of 39 MDAs, with a percentage score of 18.53%. However, by 2024, I am delighted to announce that the NCS moved up 33 places, now tied at the top with 4 other MDAs out of the 36 MDAs assessed, with a percentage score of 100%, marking an 81.5% increase,” Adeniyi said.
Adeniyi reaffirmed the NCS’s commitment to national security and combating smuggling.
The service made 63 seizures of animal and wildlife products valued at ₦566 million, seven seizures of arms and ammunition, and intercepted 127 cases of narcotics and pharmaceutical products worth over ₦6 billion.
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