The Nigeria Customs Service (NCS) has announced that it has generated N5.7 trillion in revenue as of Tuesday, November 12, 2024.
The Comptroller-General of Customs, Adewale Adeniyi, who made the revelation during the ongoing 2024 Comptroller-General of Customs Conference in Abuja on Wednesday, expressed confidence that the service would overshoot its budget by 10 per cent by the end of 2024.
The conference, themed “Nigeria Customs Service: Engaging Traditional and New Partners with Purpose,” serves as a platform to highlight the service’s accomplishments and outline its future initiatives.
Adeniyi expressed confidence in the NCS’s ability to further strengthen the country’s economy. “Our strategic engagements and collaborative efforts have delivered exceptional outcomes in fulfilling our core responsibilities.
“I am pleased to announce that, as of 13:10 on November 12, 2024, the NCS has surpassed its 2024 revenue target of NGN 5.07 trillion, collecting a total of NGN 5.079 trillion, with more than a month left in the fiscal year,” Adeniyi stated.
In addition, Adeniyi underscored the NCS’s progress in trade facilitation.
He highlighted that six beneficiaries have been selected under the Authorized Economic Operators (AEO) programme. Furthermore, 21 applications have been processed through the Advance Ruling programme, which accelerates customs decisions on import and export shipments before they reach the ports.
The Comptroller-General also commended the success of the NCS’s time release study, a key initiative that has significantly improved the goal of achieving 24-hour cargo clearance and reducing dwell time at the nation’s ports.
Adeniyi also praised the effectiveness of Operation Whirlwind, a joint initiative led by the Office of the National Security Adviser and supported by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, aimed at curbing fuel smuggling across the country.
