The Nigeria Customs Service (NCS) has so far raked in some N5.0795trn in revenues, surpassing its target of N5.079 trillion for 2024.
Adewale Adeniyi, Comptroller-General of Customs announced this during his 2024 annual conference which began on Wednesday in Abuja, titled, “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose.”
The revenue translates to a monthly revenue target of over NGN 400 billion and indicates that Customs could achieve up to 10 per cent above expectations.
Many say that the Customs achievements further give the federal government new impetus to meet its N19.4 trillion revenue target for 2024.
The CGC said the feat was achieved with support from the government as well as strategic engagements and collaborations with other relevant agencies and key partners.
“I am pleased to announce that yesterday 12 November 2024, at exactly 13:10 Hrs, the Nigeria Customs Service hit its 2024 revenue target of NGN 5.07 trillion, collecting.
NGN 5,079,455,088,194.38 with more than a month remaining in the fiscal year.
“This exceptional performance – projected to exceed our target by 10% – validates our partnership-driven approach to revenue collection and trade facilitation,” he stated.
He said the achievement is not merely about numbers, but demonstrates how enhanced stakeholder collaboration, improved processes, and modernized systems can deliver tangible results for our nation’s economy,” he stated.
He said in pursuing set objectives, the Customs expanded the frontiers of its engagement both within and beyond Nigeria’s borders.
“This past year has seen us not only consolidating existing partnerships but also forging new alliances crucial to our mission.
“We have deliberately repositioned the Nigeria Customs Service brand, emphasizing our commitment to trade facilitation and demonstrating a more nuanced application of our authority in executing our statutory responsibilities.”
According to him, through extensive stakeholder enlightenment programs, the service opened windows into its operations, fostering a better understanding of procedures and requirements.
This renewed approach to partnership has led to the strengthening of existing agreements and the establishment of new ones, all aimed at creating a more collaborative and efficient trading environment.
He also mentioned that the Service commitment to trade facilitation has garnered significant recognition and yielded measurable results, leaping 33 places upward in the Presidential Enabling Business Environment Council (PEBEC) rankings. This he noted has also placed the Customs Service among the top five agencies in trade facilitation, reflecting the impact of our reform initiatives.
“This improvement goes beyond metrics – it represents real changes in how we facilitate trade across borders. We have expanded our focus beyond traditional import operations to actively support exporters and nurture small and medium scale enterprises,” he further stressed.
Details later…
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