The Nigeria Customs Service (NCS) has credited President Bola Ahmed Tinubu’s economic reforms under the Renewed Hope Agenda for its record-breaking revenue of ₦1.3 trillion in the first quarter of 2025 — more than double the ₦600 billion collected in Q1 2023.
According to the Comptroller-General of Customs, Bashir Adewale Adeniyi, the massive increase is not tied to a rise in import volumes, which actually fell due to foreign exchange constraints, but rather due to enhanced operational efficiency, transparency, and enforcement.
Efficiency Over Volume
“We collected ₦1.3 trillion in Q1 2025 alone. Imports have dropped, but what changed is efficiency, transparency, and enforcement,” Adeniyi said in a statement released by Presidential Spokesman Bayo Onanuga.
E-Customs Digital Project
Adeniyi also revealed that the NCS is preparing to launch a $3.2 billion E-Customs Modernisation Project, which will digitize cargo processing, surveillance, and payments across all Nigerian ports and borders.
“Once fully deployed, we estimate this digital transformation will generate $250 billion in cumulative revenue over the next 20 years.”
Crackdown on Smuggling and Revenue Leakages
In the past nine months, over ₦64 billion has been recovered from undervalued and under-assessed imports. The Customs Service also dismantled major smuggling networks operating in Seme, Idiroko, Katsina, and Sokoto.
Joint border patrol task forces involving the Nigerian Army, DSS, and Police have played a crucial role in this success.
“We’re now using data analytics, drones, and port intelligence for real-time action. We’re sealing systemic loopholes that were long exploited,” the CG added.
Faster Cargo Clearance and Export Promotion
The agency has also implemented the National Single Window System, allowing businesses to process permits from up to 15 government agencies online, slashing clearance times from 21 days to just 7–10 days at key ports like Apapa and Tin Can.
Customs also introduced fast-track export lanes for agro-commodities and is working with the Nigerian Export Promotion Council (NEPC) to simplify export processes.
HEED: Follow us on Instagram or any other social media platform and get the most reliable news directly in your favourite app!
“Last year alone, Nigeria exported over ₦340 billion worth of solid minerals and agro products, a 38% increase, and we’re aiming even higher for 2025,” Adeniyi stated.
N1.75 Trillion Collected So Far in 2025
Naija Blog Daily recalls that the Customs Service had earlier announced a total Q1 revenue of ₦1.75 trillion as of April 2025, signaling one of the strongest fiscal starts in its history.
NaijaBlogDaily# is visible on all social media platforms, and we bring you the latest Nigerian news on politics and economy, entertainment, and celebrity updates, including sports across Nigeria and beyond…
Keep visiting and following up with us on any social media platform you are using to keep you updated 💯
Remember (information brings knowledge and power).
STAY TUNED!!!
