Finance Minister Presides Over 62nd NCS Board Meeting, Urges Greater Revenue Drive Amid Q1 Gains
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Tuesday chaired the 62nd regular meeting of the Nigeria Customs Service (NCS) Board, where he urged the Service to intensify its efforts to exceed its revenue targets and contribute more significantly to national development.
Held at the NCS Headquarters in Maitama, Abuja, the board meeting brought together top-level officials to review the Service’s operational performance for the first quarter of 2025, deliberate on strategic initiatives, and reinforce the agency’s commitment to trade facilitation, revenue generation, and security enhancement.
One of the major highlights of the meeting was the impressive revenue performance recorded by the NCS in Q1 2025. The Service generated an unprecedented N1.75 trillion, surpassing its target by N106.5 billion and representing a nearly 30 percent increase compared to the same period in 2024.
While commending the feat, Minister Edun stressed that the NCS must not rest on its laurels but strive for even greater results to support Nigeria’s economic recovery and fiscal consolidation.
“As is expected and required, there is an improvement in the revenue of the Service, which is slightly above what was budgeted for the first quarter. However, much more is required, and more is expected of an institution that is pivotal in revenue,” the Minister stated.
He described the meeting as “productive,” underscoring the necessity of maintaining sound corporate governance and accountability through regular statutory engagements.
“It was a good meeting. It’s important that we maintain corporate governance oversight and consultation through these regular statutory meetings. At the end of the day, we will always ask that we do more to improve the revenue and the Service’s operations to aid the Nigerian economy and serve the good people of Nigeria,” Edun affirmed.
In addition to revenue matters, the meeting featured discussions on ongoing reform and modernisation programmes within the Service.
These include the expansion of the B’Odogwu Unified Customs Management System, implementation of the Authorised Economic Operators (AEO) scheme, and enhanced anti-smuggling strategies—all designed to promote efficient customs operations, trade facilitation, and national security.
The 62nd board meeting reaffirmed the Federal Government’s commitment to building a more robust, transparent, and innovative customs administration capable of driving sustainable economic growth.
