The Nigeria Customs Service (NCS) has achieved a historic milestone, surpassing its 2024 revenue target by generating an impressive ₦6.1 trillion, a significant increase over the projected ₦5.08 trillion.
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This achievement was announced by Comptroller-General of Customs (CGC), Adewale Adeniyi, during a media briefing on the Service’s 2024 activities.
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According to Adeniyi, the NCS exceeded its target by ₦1.26 trillion, a testament to its enhanced operational efficiency. However, the CGC noted that the Service conceded ₦1.622 trillion under the federal government’s import duty exemption scheme to stimulate economic growth and create a business-friendly environment.
Nigeria Customs Service Generates ₦6.1 Trillion Revenue in 2024
“The Nigeria Customs Service facilitated import and export trade worth about ₦196.94 trillion in 2024 alone, showcasing the increasing competitiveness of Nigerian-made products,” Adeniyi said. He added that the Service processed imports valued at ₦60.29 trillion, surpassing the trade facilitation records of 2023.
The Customs Service recorded 1,262,988 import transactions, reflecting a robust performance in trade facilitation. “This remarkable achievement highlights the resilience of the Nigerian economy and the dedication of Customs officers in ensuring efficient trade processes,” Adeniyi noted.
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The CGC also disclosed that the NCS made 3,555 seizures throughout the year, valued at ₦28.46 billion. These seizures were part of efforts to curb smuggling and protect local industries