BREAKING: Nigeria Customs Revenue Collection Hits ₦5.7 Trillion

The Nigeria Customs Service (NCS) has reported a revenue collection of ₦5.7 trillion as of Tuesday, November 12, 2024.

This announcement was made by the Comptroller-General of Customs, Adewale Adeniyi, during the 2024 Comptroller-General of Customs Conference taking place in Abuja on Wednesday.

The theme of the conference is “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose.”

Adeniyi conveyed his confidence in the service’s ability to contribute further to the nation’s economic growth.

“Our strategic engagements and collaborative approaches have yielded remarkable results across our core statutory responsibilities. I am pleased to announce that, as of 12 November 2024 at exactly 13:10 Hrs, the NCS hit its 2024 revenue target of ₦5.07tn, collecting ₦5.079tn with more than a month remaining in the fiscal year,” Adeniyi said.

Adeniyi emphasized the service’s progress in enhancing trade facilitation, mentioning that six participants have been meticulously chosen for the Authorised Economic Operators programme.

He further indicated that 21 applications have been successfully processed through an advance ruling programme designed to expedite customs decision-making for import and export shipments before they reach the ports.

The Comptroller-General also pointed out that the service’s time release study has significantly contributed to achieving 24-hour cargo clearance and minimizing dwell time at the ports.

Adeniyi commended Operation Whirlwind, a collaborative effort led by the Office of the National Security Adviser and backed by the Nigerian Midstream and Downstream Petroleum Regulatory Agency, which focuses on combating fuel smuggling.