Senate Approves ₦11.074 Trillion Revenue Target for Nigeria Customs

The Senate has approved a revenue target of ₦11.074 trillion for the Nigeria Customs Service (NCS) following the agency’s impressive revenue performance and reform-driven achievements in recent years.

The approval was granted during the presentation of the Service’s 2026 budget proposal before the Senate Committee on Customs, Excise and Tariff, where the Comptroller-General of Customs, Adewale Adeniyi, outlined the agency’s revenue projections and operational strategy for the year.

Presenting the proposal, Adeniyi disclosed that the Service generated ₦7.277 trillion in 2025, exceeding its approved revenue target of ₦6.584 trillion by ₦674 billion. He described the performance as evidence of the effectiveness of ongoing reforms, improved compliance measures and enhanced trade management systems introduced by the Service.

The Customs boss further revealed that as of May 31, 2026, the Service had already generated ₦4.43 trillion, indicating significant progress toward achieving the newly approved revenue target for the year.

According to him, the projected revenue will be derived from collections into the Federation Account, non-Federation accounts, Import Value Added Tax (VAT) and the four per cent Free-on-Board (FOB) levy.

Adeniyi expressed confidence that the Service would meet and possibly surpass its 2026 target through the full deployment of the B’Odogwu trade management platform, strengthened post-clearance audit mechanisms, enhanced trade facilitation processes and intensified anti-smuggling operations across the country’s borders.

He noted that the Customs Service remains committed to balancing revenue generation with efficient trade facilitation while sustaining efforts to curb smuggling and other forms of economic sabotage.

Chairman of the Senate Committee on Customs, Excise and Tariff, Isah Jibrin, commended the Service for its remarkable performance and ongoing modernisation initiatives.

Jibrin described the reforms introduced by the Customs leadership as critical to improving revenue generation, strengthening border security, enhancing anti-smuggling operations and creating a more efficient trade environment.

Following deliberations, the committee approved the Service’s ₦1.235 trillion expenditure proposal through a voice vote, expressing confidence in the agency’s capacity to deliver on its mandate and sustain its impressive revenue growth trajectory.

The Senate’s endorsement of the ambitious revenue target is expected to further strengthen the Federal Government’s drive to boost non-oil revenue and improve fiscal sustainability amid ongoing economic reforms.