Nigerian Customs Service Surges Past Revenue Targets, Generates N4.2 Billion in Nine Months

In an impressive display of financial growth, the Nigerian Customs Service has revealed that it has generated a staggering N4.2 billion in revenue in the first nine months of 2024. This remarkable achievement was disclosed by the Comptroller General of the Nigerian Customs Service, Bashir Adeniyi, during a workshop held in Lagos.

Represented by the Comptroller Customs Area Controller, Tincan Island Port Command, Dera Nnadi, Adeniyi proudly stated that the service has already surpassed its revenue generation for 2022 and 2023. Moreover, the service is confident that it will exceed its 2024 target of N5.3 billion by the end of the year.

Adeniyi shed light on the enormous progress made by the service, leveraging digital technology, "What this means is that we have already surpassed our 2023 collection by over N1 trillion even though the year has not yet ended." He attributed the success to the effective deployment of digitalization, ICT, and innovation in their business processes.

To put this remarkable achievement into perspective, Adeniyi further elaborated, "The Service was able to collect N2.6 trillion in 2022. So, you can see that we are making steady progress." This upward trend is indeed a testament to the service’s commitment to harnessing technology to drive revenue growth.

Notably, the total revenue generated in Nigeria in 2023 stood at N12.37 trillion, according to the Federal Inland Revenue Service. The Nigerian Customs Service’s impressive performance is a significant contributor to this overall revenue, underscoring the service’s crucial role in the country’s economic growth.

With its sights firmly set on surpassing its 2024 target, the Nigerian Customs Service is poised to continue its impressive revenue growth streak, further solidifying its position as a key driver of the country’s economic development.