The Nigeria Customs Service (NCS) has reached a significant milestone by meeting its 2024 revenue target of N5.07 trillion over a month ahead of schedule. This announcement was made on Wednesday by the Comptroller General of Customs, CGC Bashir Adewale Adeniyi, at the 2024 Comptroller General of Customs Conference in Abuja.
According to Adeniyi, at precisely 13:10 Hrs on that day, the NCS recorded revenue collections amounting to N5,079,455,088,194.38, effectively achieving the annual target with weeks to spare.
CGC Adeniyi hailed this exceptional achievement as a testament to the strategic engagements and collaborative efforts that have been the cornerstone of the Service’s approach this year.
“This outstanding performance, projected to exceed our target by an additional 10%, is not just about the numbers,” he stated. “It demonstrates how enhanced stakeholder collaboration, improved processes, and modernized systems can deliver tangible results for our nation’s economy.”
The Comptroller General highlighted that this success underscores the effectiveness of the NCS’s partnership-driven approach to revenue collection and trade facilitation. He emphasised that this achievement reflects more than just financial figures—it showcases the positive impact of strategic reforms on Nigeria’s economic landscape.
Adeniyi also pointed out the NCS’s commitment to fostering a business-friendly environment, which has garnered significant recognition. Notably, the NCS made a remarkable leap of 33 places in the Presidential Enabling Business Environment Council (PEBEC) rankings, positioning it among the top five agencies in trade facilitation. This impressive performance is a clear indicator of the reforms implemented by the NCS, which go beyond metrics to bring about real improvements in trade processes.
In his speech, CGC Adeniyi highlighted the NCS’s expanded focus on supporting not only traditional import operations but also exporters, especially small and medium-scale enterprises (SMEs). This shift is part of the Service’s broader mandate to facilitate trade across borders. The NCS’s commitment to trade facilitation has not only enhanced Nigeria’s position in global trade but also garnered international recognition.
A significant acknowledgment came from the African Continental Free Trade Area (AfCFTA) Secretariat, which invited the NCS to share its innovative trade facilitation strategies at the prestigious Biashara Afrika Forum in Kigali last month. This invitation was in recognition of the NCS’s efforts to support regional trade integration.
Adeniyi proudly noted that these efforts culminated in a historic milestone: Nigeria’s first shipment under the AfCFTA agreement, marking the country’s practical commitment to continental trade integration.
The Comptroller General emphasised that the NCS’s achievements are a result of sustained reforms, which are aligned with global best practices. These reforms have improved the efficiency of customs processes, enhanced stakeholder collaboration, and optimized revenue collection methods.
“Our leap in the PEBEC rankings and the recognition by the AfCFTA Secretariat highlight the impact of our trade facilitation efforts. These are real, measurable improvements that strengthen Nigeria’s economic standing,” Adeniyi said. He further expressed confidence that the NCS would continue to exceed expectations, aiming to surpass the set revenue target by an additional 10% by the end of the fiscal year.
The NCS’s success story in 2024 demonstrates a clear alignment with the Federal Government’s economic growth agenda, proving that strategic reforms, technological advancements, and stakeholder collaboration are pivotal in driving Nigeria’s economic progress. As the year draws to a close, the NCS is poised to build on these achievements, setting the stage for even greater contributions to the nation’s revenue generation and trade facilitation efforts in the coming year.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.
