Nigerian Customs Service (NCS), yesterday, announced that it recorded 21.4 per cent in revenue during the fiscal year 2023. It attributed the achievement to various initiatives and strategies implemented by the service to enhance revenue.
The Comptroller-General of Customs, Bashir Adewale Adeniyi, disclosed this in Abuja, at a press briefing, saying the agency is targeting N5.79 trillion as revenue in 2024.
According to him, a significant increase in revenue collection by the service will have a positive impact on the country’s economy. Adeniyi said: “In the fiscal year 2023, Nigeria Customs Service achieved a significant milestone by recording a total revenue collection of N3,206,603,417,315.47, marking a noteworthy 21.4 per cent increase from the preceding year’s total revenue of N2,641,616,673,501.83.
“This growth aligns with the NCS’s consistent upward trajectory, as evidenced by a 17.88 per cent revenue increase in 2022. The consecutive expansion in revenue underscores the service’s sustained efforts at optimising revenue collection for the Federal Government and exemplifies our ability to adapt to dynamic economic conditions.”
Adeniyi also acknowledged that challenges faced by NSC led to a revenue shortfall of N532 billion in the first half of the year, falling short of the projected revenue target of N1.84 trillion.
The Comptroller-General emphasised that the NCS remained committed to creating a business-friendly environment for trade, while ensuring strict compliance with customs regulations and protocols.
