CUSTOMS EYEING A N9 TRILLION REVENUE TARGET THIS YEAR
By Timothy Paul Okorocha
The Nigeria Customs Service is eyeing a N9 trillion revenue target for this year, following the latest reforms it has introduced to the trade facilitation project. The application of latest technology to nip leakages as well as diversion remains a huge plus.
In the last three years, the customs has been taking in several trillions, making the word a trade mark. Current indicators last month have shown that there will be a sharp jump in revenue tracking from major commands in the country, especially the premier command Apapa, the Tin Can Island port command, the Onne port, the Murtala Muhammed command, the Seme/Badagry command as well as major excise commands in Lagos and Ogun States. From records available, the Service overshot its 2025 budget by 11 percent in view of strict compliance.
The service generated N100 billion in 2025 from voluntary disclosures payment from traders who took to regularise underpaid duties after reviewing their records, a route the service plots to sustain this year.
‘The 2026 strategy will focus on sustained trade facilitation, deeper use of technology for risk management and cargo tracking, and stronger partnerships with the trading community’.
This proposed target would be finalized after an interface with the National Assembly committee on appropriation.
The Customs service generated a total of N7.28 trillion in 2025, exceeding its target of N6.58 trillion by N697 billion, marking a 19 percent increase over N6.1 trillion in 2024.