By Kayode Araba
Thus, the Senate has approved a significant upward review of the 2025 revenue target for the Nigeria Customs Service (NCS), increasing it from the earlier proposed N6.584 trillion to a new benchmark of N10 trillion this decision comes in recognition of the agency’s remarkable revenue performance in the 2024 fiscal year.
And the adjustment was made during the 2025 budget defence session of the NCS before the Senate Committee on Customs, Excise and Tariff, chaired by Senator Isah Jibrin (APC, Kogi East), who praised the Service for surpassing its 2024 target of N5.079 trillion by more than a trillion naira.
Senator Jibrin, said the Customs Service demonstrated a strong capacity for revenue generation and deserved an expanded target to reflect its growing efficiency and contribution to the national economy also aids development to the nation
However, the the chairman stated that the committee is impressed with your performance in 2024 that. the Nigeria customs exceeded their target by over a trillion naira, and this is commendable that this shows that the Nigeria Customs Service has the capacity to do more. As a result, we have agreed to raise the 2025 revenue target to N10 trillion.”
Senator Isah Jibrin further alluded to the fact that the Committee had unanimously approved the Service’s proposed 2025 expenditure framework of N1.132 trillion. The final figures for both revenue and expenditure will be presented to the full Senate when plenary resumes on Tuesday, June 24, following the Sallah break.
However, Senator Jibrin emphasized that revenue generation alone is not enough. He charged the Customs Service to intensify efforts to combat smuggling and the influx of illicit drugs across the nation’s borders, warning that these challenges pose serious threats to national security.
