Customs surpasses 2025 revenue target, projects N11tn for 2026

Vanguard NigeriaIndependentCenter21 hr. ago

The Nigeria Customs Service (NCS) exceeded its 2025 revenue target by 10.24%, collecting N7.277 trillion compared to the N6.584 trillion goal. The service has submitted a proposed N11.274 trillion budget for 2026 to the House of Representatives Committee on Customs and Excise. This includes revenue projections from federation accounts, non-federation sources, import VAT, and the new four percent FOB funding mechanism. The NCS attributed its strong performance to improved operational efficiency, though it noted that government fiscal incentives like duty waivers and tax reliefs impacted revenue. Additionally, the agency received only 71.4% of its approved N1.132 trillion expenditure budget for 2025 due to delays in implementing the new funding framework.

Bias read (Center): The article presents factual information about the Nigeria Customs Service's financial performance and budget proposal without overtly favoring any political side. It reports on the agency's achievements and challenges neutrally, citing internal explanations and figures without apparent ideological傾

Premium Times NigeriaIndependentCenter2 days ago

The Nigeria Customs Service (NCS) announced that it surpassed its 2025 revenue target by ₦674 billion, achieving ₦7.277 trillion compared to the initial projection of ₦6.584 trillion. The Comptroller-General, Bashir Adeniyi, presented these figures to the Senate Committee on Customs, attributing the success to improved efficiency and reforms. However, he acknowledged factors such as the Russia-Ukraine war, import duty waivers on CNG equipment, and uncollected duties on military equipment hindered potential revenue. For 2026, the NCS set a new target of ₦11.04 trillion, with expectations of meeting it through technological upgrades like the Indigenous Unified Customs Information System (UCIS) and enhanced enforcement measures. As of mid-2026, the agency had already collected ₦4.043 trillion, with optimism about continued growth due to improving trade conditions.

Bias read (Center): The article presents factual data on customs revenue performance and projections without overtly favoring any political ideology. While it discusses policy decisions and their impacts, it does not take a clear partisan stance. The framing remains neutral, focusing on economic outcomes and policy-rev