By Abdul Lauya
The House of Representatives Committee on Customs and Excise has approved a budget of N1.132 trillion for the Nigeria Customs Service (NCS) for the 2025 fiscal year.
The budget, presented by Deputy Comptroller-General Mohammed Jibo on behalf of Comptroller-General Adewale Adeniyi, underscores the strategic role of Customs in national economic planning.
The NCS has set an ambitious revenue target of N6.584 trillion, aimed at bolstering the Federation Account, Non-Federation Account, and Import VAT collections.
Of this target, N3.853 trillion is expected to go to the Federation Account, N1.081 trillion to the Non-Federation Account, and N1.650 trillion from Import VAT.
The revenue projections are anchored on legitimate earnings such as 4% of the Free-On-Board (FOB) value and a 2% VAT share due to the NCS.
The budget allocates N247.16 billion to personnel costs, N239.97 billion to overheads, and N645.42 billion to capital projects, reflecting a strong push for operational capacity expansion.
Customs officials emphasized that the funds will drive infrastructure upgrades and reforms aimed at improving trade facilitation and anti-smuggling operations.
The Service’s financial plan aligns with broader economic reforms and highlights Customs as a central pillar in revenue generation and national development.
Legislators lauded the NCS for its transparency and commitment to fiscal discipline, while pledging continued oversight and support.
The NCS reaffirmed its dedication to legal compliance and pledged to explore sustainable means of funding its modernisation programmes.
