#5.1 trillion revenue target for 2024 already achieved: Customs

The Nigeria Customs Service has hit its 2024 revenue target of N5.1 trillion on Tuesday, says the comptroller-general, Adewale Adeniyi.

Mr Adeniyi announced this on Wednesday in Abuja at the opening ceremony of the 2024 Comptroller General Conference.

“I am pleased to announce that yesterday, 12 November 2024, at exactly ten minutes past one, the NCS hit its 2024 revenue target of NGN 5.07 trillion, with more than a month remaining in the fiscal year.

“This exceptional performance, projected to exceed our target by at least 10 per cent, validates our partnership-driven approach to revenue collection and trade facilitation.

“The achievement is not merely about numbers; it demonstrates how enhanced stakeholder collaboration, improved processes, and modernised systems can deliver tangible results for our nation’s economy,” he said.

He added that custom’s modernisation initiatives have continued to yield immediate benefits for its stakeholders, and it strives to sustain continuous improvement.

According to Mr Adeniyi, the service has successfully implemented key reforms, which include its Authorised Economic Operators scheme, which currently has six beneficiaries in its pilot phase.

The customs boss also mentioned that the advanced ruling system had processed 31 requests, with 12 rulings issued and 75 per cent completed in October following its stakeholder sensitisation efforts. He added that introducing 24-hour cargo clearance at major ports had significantly reduced dwell time.

“The completion of Nigeria’s first-time release study now provides us with empirical data to measure and improve our efficiency. Our enhanced risk management systems are streamlining operations, and the deployment of non-intrusive inspection equipment is accelerating cargo examination while maintaining robust controls,” he explained.

He noted that the scale of our intervention is reflected in seizures valued at N28.1 billion and counting in 2024 alone, disclosing that the seizures span critical areas of national concern, from wildlife items and arms and ammunition to narcotics and pharmaceutical products.

“An important moment in our’ enforcement strategy was the declaration of a state of emergency at our major ports.

“This led to the interception of 48 containers of illicit pharmaceutical items and narcotics, significantly disrupting the flow of potentially harmful products,” he said.