The Federal Government has set an ambitious N48 Trillion expenditure revenue target for 2025 with the Nigeria Customs Service (NCS) central to any such moves.
Finance Minister, Olawale Edun, emphasised the agency’s importance during the 61st quarterly board meeting of the NCS on December 18 at the Customs House in Abuja.
The meeting followed President Bola Ahmed Tinubu’s presentation of the 2025 budget to the National Assembly, titled “A Budget of Restoration.”
The budget which anticipates ₦35 trillion in revenue puts the NCS as a pivotal part of all moves.
Mr. Edun noted that the NCS had already surpassed its 2024 revenue target, collecting over ₦5.07 trillion by November 12, 2024.
This achievement is projected to exceed the target by 10%, reflecting the agency’s enhanced stakeholder collaboration and modernization efforts.
The government plans to secure concessionary loans, grants and development support to fund the remaining ₦13 trillion of the 2025 budget.
The board also reviewed the NCS’s 2024 achievements, approving the recruitment of 3,927 officers and granting special promotions to top-performing personnel to address workforce gaps and enhance trade facilitation.
Mr. Edun commended the NCS’s efforts in combating smuggling and promoting trade, which are crucial for economic growth and job creation.
He urged Officers and men of the Customs Service to remain committed to national goals, emphasising the agency’s role in poverty reduction and economic development.
The NCS’s success in exceeding its revenue target underscores its critical role in Nigeria’s economic framework, particularly in light of the substantial 2025 budget aimed at national restoration.
