Customs Collects ₦6tn Revenue in 2024, to Deploy More Scanners at Key Ports

The Nigeria Customs Service (NCS) has announced the collection of ₦6,105,315,543,489.50 revenue for 2024, surpassing its target of ₦5,079,069,866,085.50 by ₦1,026,245,677,404.00, a 20.2 per cent increase above its mandate.

This also represents a significant 90.4 per cent increase from its 2023 collection of ₦3,206,583,002,675.65.

The Comptroller General of Customs (CGC), Adewale Adeniyi made this known during a press conference on the activities and achievements of the service for the year 2024 in Abuja on Tuesday.

According to him, the growth is historic as it marks the highest Year-on-Year increase recorded by the Service in recent times, surpassing the 52.24 per cent growth recorded in 2022 by 38.18 percentage points, as the Service also achieved another milestone in October 2024, recording the highest monthly collection ever of ₦603,171,859,991.97.

The CGC noted that the NCS has consistently demonstrated its capacity for growth and adaptation in revenue collection, which has enabled it reach new heights in revenue collection, trade facilitation, and enforcement activities during the year under review.

He explained that the total revenue collected for 2024 comprises three main components: Federation Account Collections; Non-Federation Account Levies and Value Added Tax (VAT).

The Customs boss highlighted that the sum of ₦3,657,063,981,445.42 was collected into the Federation Account, consisting of Import Duty, Excise Duty, Fees, E-Auction proceeds, and CET Levy; ₦816,902,844,844.73 was collected as Non-Federation Account Levies, and ₦1,631,348,717,199.35 as VAT on imports.

He added: “It is pertinent to note that these collections were achieved despite significant concessions granted to support various sectors of the economy, totalling ₦1,682,302,648,880.67. These concessions comprised ₦723,000,081,776.68 in import duty waivers, ₦372,649,650,951.72 in other levy concessions, and ₦586,652,916,152.27 in import VAT relief.

“These strategic concessions were granted to stimulate economic growth, support industrial development, and enhance the overall business environment in line with government policy objectives. Notably, the 2024 concession value represents a significant reduction from the ₦3,959,868,268,993.18 recorded in 2023.

“This reduction is a direct result of our enhanced monitoring mechanisms and strategic reforms aimed at blocking loopholes and eliminating abuses in the concession granting process, ensuring that only genuine and qualifying enterprises benefit from these incentives.

“These achievements were made possible through our continuous alignment with the policy objectives of His Excellency, President Bola Ahmed Tinubu, under the astute guidance of the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, and the support of Management and the entire staff of Nigeria Customs Service “.

On Trade facilitation, Adeniyi said despite its impressive revenue performance, the NCS remained conscious of the need to strike a balance between revenue collection and trade facilitation, adding that the performance data for 2024 reflects significant growth in trade value despite global economic headwinds.

The Service processed imports with a Cost, Insurance, and Freight (CIF) value of ₦60.29 trillion in 2024, representing a 117.4 per cent increase from ₦27.74 trillion in 2023.

This was achieved through 1,262,988 import transactions, handling a total mass of 15.35 billion kilograms.

It also facilitated export trade with the total CIF value rising significantly to ₦136.65 trillion in 2024 from ₦42.77 trillion in 2023, marking a 219.5 per cent increase.

The total trade value handled by the Service in 2024 amounted to ₦196.94 trillion, compared to ₦70.50 trillion in 2023, representing a 179.3 percent increase.

“This substantial growth in trade value, achieved with fewer but more valuable transactions, is evident of the increasing sophistication of Nigeria’s international trade and the effectiveness of our trade facilitation measures.

“In line with our pledge to adopt global best practices in trade facilitation, improve operational excellence, and enhance security, I am pleased to report significant progress in implementing these commitments”.

He said the Service successfully implemented various measures to enhance operational efficiency through modern procedures enabled by the new NCS Act, such as the Advanced Ruling system, launched in early 2024; Authorized Economic Operator (AEO) Programme; Time Release Study and International Partnerships; Stakeholder Engagement Initiatives; Support for SMEs and Export Trade Facilitation, as well as Technological Infrastructure Advancement – which brought about the launch of an indigenously developed customs clearance platform with the support of our concessionaires under the Trade Modernisation Project, named ‘B’Odogwu’, in the fourth quarter of 2024, in which the pilot testing took place at the PTML Command.

In its anti-smuggling and enforcement drive, the NCS made a total of 3,555 seizures throughout the year, with a 100.92 per cent increase in the Duty Paid Value (DPV) of seizures from ₦17.56 billion in 2023 to ₦35.29 billion in 2024.

The Customs boss said the seizures, with a Cost, Insurance, and Freight (CIF) value of ₦28.46 billion and total duty of ₦6.83 billion, highlights the scale of attempted economic sabotage prevented by the Service.

According to him, the enforcement activities also yielded 55 arrests of suspects currently under investigations as the Service continues to dismantle the criminal networks behind these activities.

“To further strengthen our enforcement capabilities, the Service is actively expanding its technological infrastructure through the integration of geo-spatial technology and other cutting-edge solutions.

“These technological advancements, coupled with capacity building and enhanced intelligence gathering mechanisms, will significantly boost our surveillance and enforcement operations”.

Commenting on infrastructure and facility development, the CGC stated that the delivery of new scanning equipment at major ports is a very significant step in its non-intrusive inspection capabilities.

He noted that the scanners will enhance cargo examination processes, reducing clearance time while maintaining robust security protocols.

Adeniyi, while speaking on the secured approval for the establishment of the Nigeria Customs Service University for Trade and Technology in Badagry, Lagos, said the institution is envisioned to become a center of excellence for customs and trade-related studies, contributing to capacity building in Nigeria and the West African region.

On the outlook for 2025, Adeniyi stated that the NCS’s strategic priorities have been carefully aligned with national economic objectives and the evolving global trading environment.

“The Federal Government has set an ambitious revenue target of ₦6.58 trillion for the Service, a target that reflects both the government’s confidence in our capabilities and the expanding scope of our operations.

“We approach this challenge with determination, building on our achievements in 2024 and leveraging our enhanced capabilities”.

He pointed out that the Service will focus on five key areas: Full deployment of trade modernisation initiatives, including the nationwide rollout of the B’Odogwu platform; complete implementation of the Authorized Economic Operator (AEO) programme; enhancement of our risk management and enforcement capabilities through technology integration; operationalization of the Nigeria Customs Service University for Trade and Technology; strengthening of our international partnerships and trade facilitation initiatives under the AfCFTA framework.

Others are: Implementation and roll out of a robust CSR strategy aligned with the pillars of the Presidential Priority Areas and the Sustainable Development Goals and the promotion of open governance through enhanced transparency, stakeholder engagement, and public access to customs information and processes.

The CGC reiterated that the full operationalisation of its new Corporate Headquarters, the deployment of additional scanning systems at key ports, and the launch of our comprehensive Corporate Social Responsibility programme will be prioritised.

He said the projects, alongside its ongoing modernisation efforts, will significantly enhance the NCS’ operational capabilities and service delivery.

“Our modernization agenda will continue to emphasize digital transformation and process automation. The expansion of our geo-spatial surveillance capabilities, integration of artificial intelligence in risk management, and enhancement of our data analytics capabilities will remain central to our efforts.

“These technological advancements will be complemented by continued investments in human capital development and infrastructure improvement”, Adeniyi added.

The CGC thanked stakeholders – the trading community, partner government agencies, international partners, and the media, while asking for more support in 2025, as it works towards achieving its mandate.

Thelensng