24
May
May
CUSTOMS REVENUE HITS ₦1.3 TRILLION IN Q1 2025 UNDER PRESIDENT TINUBU’S REFORMS
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CapitalTimesNews / 1 week
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- 2 min read
The Nigeria Customs Service (NCS) has recorded an unprecedented revenue of ₦1.3 trillion in the first quarter of 2025, more than double the ₦600 billion collected during the same period in 2023. Comptroller-General of Customs Bashir Adewale Adeniyi attributed this remarkable growth to transformative reforms under President Bola Tinubu’s Renewed Hope Agenda. Special Adviser to the President (Information & Strategy) Bayo Onanuga stated in the release that Comptroller-General Adeniyi revealed the revenue surge emanated from improved technological deployment, enhanced port operations, tightened enforcement on revenue leakages, and a renewed culture of accountability across Customs commands. “We collected ₦1.3 trillion in Q1 2025 alone. This is not due to higher import volumes. Imports have dropped due to foreign exchange constraints. What has changed is efficiency, transparency, and enforcement,” Adeniyi said. Adeniyi disclosed that the Service is preparing to launch the E-Customs Modernisation Project, a $3.2 billion initiative that will digitise cargo processing, surveillance, and payment systems across Nigeria’s ports and borders. “We’re laying the foundation to move from a manual, paper-based system to a fully digital service. The E-Customs Project is central to our future. Once fully deployed, we project it will add $250 billion in cumulative revenue over 20 years,” he said. Adeniyi added that the newly launched Authorised Economic Operator (AEO) Programme is now onboarding pre-vetted importers, allowing compliant businesses faster processing and reducing port congestion. Adeniyi confirmed that the Service has intensified its anti-smuggling operations and closed long-standing revenue leakages, recovering over ₦64 billion from previously under-assessed or undervalued imports in the last nine months. “We’re no longer just chasing smugglers in the bush. We’re using data, surveillance drones, and port intelligence to act in real-time. Once systemic leakages are now being plugged,” Adeniyi said. Bayo Onanuga’s statement quoted Adeniyi as saying the agency has introduced fast-track lanes for agro-exports and is working with the Nigerian Export Promotion Council (NEPC) to streamline outbound cargo processes in line with the government’s push for non-oil exports.
