The Nigeria Customs Service (NCS) has announced an increase in its revenue, generating N1.347 trillion in the first quarter of 2024.
This indicates a 122.35 percent increase compared to the N606.1 billion recorded within the same period in 2023.
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Bashir Adeniyi, Comptroller General of the NCS, disclosed this while briefing to newsmen on Wednesday in Abuja. While noting the increase in revenue, he explained that in January alone the revenue surged by 95.6% compared to January 2023.
He attributed the revenue performance to the introduction of reforms such as the e-auction which yielded a total of N1.6 billion for the period of February and March 2024.
The Comptroller General also informed that the Service made a total of 572 seizures amounting to N10. 593 billion.
He, however, regretted that the fluctuations in the exchange rate, and non-compliance to regulations were among the challenges that significantly affected the activities of the service.
