馃嚦馃嚞NigeriaWest Africa
Nigeria Customs Service exceeds 2025 revenue target despite waivers, sets N11.07tn goal for 2026
via Punch Nigeria6 min read
The Nigeria Customs Service NCS announced it surpassed its 2025 revenue target by 10.24 percent, generating N7.28tn against a target of N6.58tn. Comptroller-General of Customs, Adewale Adeniyi, presented this information during the agency's 2025 budget performance review and 2026 budget proposal before the House of Representatives Committee on Customs and Excise. The achievement occurred despite significant revenue losses, estimated at N34.54tn, due to government-approved tax waivers, fiscal incentives, and import duty exemption certificates, which covered imports including petroleum products and military items. These waivers were implemented to stimulate economic growth, support critical sectors, and cushion inflation. Adeniyi attributed the revenue success to reforms in administration, technology deployment, and trade facilitation, including the Unified Customs Information System B'Odogwu. For 2026, the NCS aims for a revenue target of N11.07tn, planning to achieve this through enhanced automation, post-clearance audits, intelligence-led enforcement, and trade facilitation. The Service also noted that recent tariff reductions on imported vehicles, from 15 percent to 5 percent for used vehicles and 20 percent to 10 percent for new vehicles, might moderate revenue growth, with the full impact expected to be seen after 90 days from its May 1, 2026, implementation. The NCS also clarified budget discrepancies, explaining that the approved budget was based on a new 4 percent Free
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