The Senate Committee on Customs has increased the Nigeria Customs Service (NCS) 2025 revenue target from N6.584 trillion to N10 trillion, citing the agency’s impressive performance in surpassing its 2024 fiscal goals.
This development came during a budget defence session on Monday, where the NCS represented by Deputy Comptroller General Jibo Bello presented its 2024 financial performance and projections for the coming year.
The Committee Chairman, Senator Isah Jibrin (Kogi East), applauded the Service for exceeding its 2024 revenue target of N5.079 trillion by over N1 trillion.
“We must challenge ourselves to do better. You have shown capacity by exceeding your previous target, and now we believe you can raise even more,” Jibrin declared.
After examining the proposed N6.584 trillion revenue and N1.132 trillion expenditure for 2025, the committee unanimously endorsed the figures for full Senate consideration.
The proposal is expected to be tabled at plenary when the Senate reconvenes from its Sallah break on Tuesday.
The committee’s decision reflects growing Senate confidence in the Customs Service as a vital non-oil revenue generator, particularly as the country intensifies its efforts to expand internal revenue sources.
Beyond fiscal targets, the committee urged the NCS to redouble its efforts in combating smuggling and the rising flow of illicit drugs challenges closely tied to worsening insecurity nationwide.
“There’s too much flow of illicit drugs across our borders. These substances are fuelling banditry and insecurity because many of these criminals are under the influence. Customs must be at the forefront of tackling this menace,” Jibrin said.
He further decried the continued smuggling of goods that could be produced domestically, calling for stricter enforcement of import restrictions to support Nigeria’s drive for economic self-reliance.
“We must eat what we grow and use what we produce. Reducing imports will conserve our foreign exchange and boost local industries. It’s not just about revenue; it’s about economic development and job creation,” he added.
The senator concluded by noting that stronger enforcement against illegal imports would help unlock the potential of local industries, harness unused resources, and create much-needed jobs for millions of Nigerians.
