Economy/FinanceNewsSecurity

Nigeria Customs Service Declares N6.105 Trillion as Revenue in 2024

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Nigeria Customs Service Declares N6.105 Trillion as Revenue in 2024

 

 

By Alabidun Shuaib AbdulRahman

 

 

The Nigeria Customs Service (NCS) has announced a landmark achievement in its revenue collection, generating a record ₦6.105 trillion in 2024.

 

 

This impressive feat surpasses the Service’s target of ₦5.08 trillion by ₦1.03 trillion, representing a 20.2% increase.

 

 

This was disclosed by the Comptroller General of Customs, Bashir Adewale Adeniyi, during a press briefing at the Service’s Corporate Headquarters in Maitama, Abuja.

 

 

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According to the Comptroller General of Customs, the 2024 revenue collection marks a significant 90.4% increase compared to the ₦3.21 trillion collected in 2023.

 

 

The NCS attributed the success to improved efficiency, strategic reforms, and digital innovations aimed at enhancing revenue collection and reducing leakages.

 

 

The Service also noted that the reduction in concession values from ₦3.96 trillion in 2023 to ₦1.68 trillion in 2024 was due to enhanced monitoring mechanisms and strategic reforms aimed at curbing abuses in the process.

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