The Nigeria Customs Service (NCS) on Wednesday assured that it would align with the Federal Government’s policy direction to realize its N5.079 trillion revenue target in 2024.
Addressing a press conference in Abuja, the Comptroller General of Customs, Adewale Adeniyi, noted that the service exceeded collected the sum of N3.2 trillion in 2023.
“For the fiscal year 2024, the NCS has been allocated a new revenue target of N5.079 trillion, aligning with the government’s economic objectives. This target signifies the government’s confidence in the NCS’ capabilities and underscores the service’s important role in contributing to the nation’s fiscal wellbeing.
“The strategic initiatives detailed above, alongside other operational reforms, are anticipated to play a crucial role in achieving this revenue goal,” he said.
Adeniyi said as the NCS addresses the challenges and opportunities in 2024, the service is steadfast in its commitment to implementing these strategies and exploring practical approaches to meet the heightened revenue target.
On last year’s revenue collection, Adeniyi said, “In the fiscal year 2023, the NCS achieved a significant milestone by recording a total revenue collection of NGN3,206,603,417,315.47 marking a noteworthy 21.4% increase from the preceding year’s total revenue of NGN 2,641,616,673,501.83. This growth aligns with the NCS’ consistent upward trajectory, as evidenced by a 17.88% revenue increase in 2022.
“The consecutive expansion in revenue underscores the service’s sustained efforts in optimising revenue collection for the Federal Government and exemplifies our ability to adapt to dynamic economic conditions,” he said.
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