The Nigeria Customs Service (NCS) has received a significant fiscal boost as the House of Representatives Committee on Customs and Excise has approved a ₦1.132 trillion budget for the 2025 financial year.
The budget proposal, which was laid before the committee by Deputy Comptroller-General Mohammed Jibo, representing the Comptroller-General of Customs, Adewale Adeniyi, outlines a strategic financial roadmap aimed at expanding revenue generation, enhancing trade facilitation, and strengthening enforcement efforts across Nigeria’s borders.
According to the presentation, the NCS has set an ambitious revenue target of ₦6.584 trillion for the year. This is distributed across key components: ₦3.853 trillion projected for the Federation Account, ₦1.081 trillion for the Non-Federation Account, and ₦1.650 trillion expected from import-related Value Added Tax (VAT).
The Service explained that revenue would be derived from statutory sources, including a 4% Free-On-Board (FOB) value of imports estimated at over ₦1 trillion as well as its share of VAT and earmarked funds for capital development.
Breakdown of the proposed spending includes ₦247.16 billion for personnel costs, ₦239.97 billion for operational overheads, and ₦645.42 billion allocated to capital projects. These investments are aimed at modernising customs infrastructure, upgrading technology, and reinforcing anti-smuggling operations.
In response to the committee’s approval, the NCS reaffirmed its commitment to transparent financial management, institutional reforms, and strict compliance with legislative oversight. The Service also expressed gratitude to the National Assembly for its continued support and pledged to ensure judicious utilisation of the allocated resources.
The 2025 budget is expected to further reposition the Nigeria Customs Service as a key revenue-generating agency and a frontline player in the country’s economic development and border security architecture; one of the core agenda of President Tinubu led administration.
Abuja, Saltcity News
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