Nigeria Customs Sets Record with N6.1 Trillion Revenue in 2024, Revolutionises Trade, Security
The Nigeria Customs Service (NCS) has unveiled its stellar performance for 2024, achieving unprecedented milestones in revenue collection, trade facilitation, and anti-smuggling enforcement.
Addressing the press at the NCS Corporate Headquarters in Abuja, Comptroller-General Bashir Adewale Adeniyi celebrated a record-breaking year, attributing the success to enhanced operational strategies and collaboration with key stakeholders.
The Service collected an astounding N6.1 trillion in 2024, surpassing its target of N5.08 trillion by 20.2%. This marks a 90.4% increase from the N3.2 trillion collected in 2023 and is the highest year-on-year growth in recent history.
October 2024 alone saw the highest monthly revenue collection ever, amounting to N603.17 billion.
The revenue breakdown included:
Federation Account Collections: N3.66 trillion from import duties, excise duties, and other levies.
Non-Federation Account Levies: N816.90 billion.
Value Added Tax (VAT) on Imports: N1.63 trillion.
Comptroller-General Adeniyi highlighted the Service’s ability to achieve these results despite granting N1.68 trillion in concessions to support economic growth and industrial development.
The NCS reported significant advancements in trade facilitation, with the total trade value processed reaching N196.94 trillion in 2024 – a 179.3% increase from N70.5 trillion in 2023.
Export trade saw a remarkable 219.5% growth, with processed export value rising from N42.77 trillion in 2023 to N136.65 trillion in 2024.
Key achievements include:
Launch of the Advanced Ruling System to provide pre-arrival classification and valuation decisions, reducing clearance delays.
Expansion of the Authorised Economic Operator (AEO) Programme, cutting cargo clearance times by 66.9%.
Introduction of a home-grown digital customs clearance platform, ‘B’Odogwu’, which generated N31 billion during pilot testing.
Strategic partnerships with international customs administrations, leading to enhanced intelligence sharing and capacity building.
Anti-Smuggling Efforts
In 2024, the NCS intensified its anti-smuggling activities, recording 3,555 seizures valued at N35.29 billion – a 100.92% increase from 2023. Significant achievements include:
Seizures of 900 arms, 113,472 rounds of ammunition, and 175,676 counterfeit pharmaceutical items.
Interception of 183,527 bags of rice and 3,785 bales of textiles to protect local industries.
Recovery of 1.72 million litres of petroleum products through Operation Whirlwind, in collaboration with the National Security Adviser and the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Capacity Building and Human Resource Development
The Service also prioritised workforce development in 2024, promoting 4,291 senior officers and 1,419 junior officers. Over 1,000 officers participated in international training sessions, ensuring alignment with global customs standards.
The NCS has commenced recruitment of new officers to strengthen its workforce and sustain the momentum of its modernisation agenda.
Outlook for 2025
Looking ahead, Comptroller-General Adeniyi reaffirmed the NCS’s commitment to supporting Nigeria’s economic growth, fostering global trade partnerships, and bolstering national security.
“Our achievements in 2024 are a testament to our unwavering dedication to excellence. We will continue to build on this foundation to deliver even greater results in the coming year,” he stated.
The CGC commended President Bola Ahmed Tinubu’s administration and the Minister of Finance, Mr. Olawale Edun, for their support in enabling these achievements.
