The Comptroller-General, Nigeria Customs Service, NCS, Adewale Adeniyi, has said figures so far compiled by the service revealed that the organization generated a little above N3 trillion in 2023.
Adeniyi also said that the agency’s revenue projection for 2024 was N5.1 trillion stressing that the Customs would strive to deliver on this mandate, as its officers had been put on alert as regards the target.
The NCS boss spoke during the decoration ceremony of newly promoted officers of the service at the organization’s headquarters in Abuja.
He said, “We are now in 2024 and we face daunting challenges. Our challenges are in an economy that continuously looks forward to the Nigeria Customs Service to generate revenue to fund the national budget.
“As at the last time, if it is not changed, the revenue projection for Customs in 2024 stands at N5.1tn. We are still compiling what we have done in 2023, I believe that we just went a little above N3tn. By the time we finalise the others we are going to make it public by next week.
“But as we start the new year, I want our newly promoted officers, working with other officers, to lead the charge for the realisation of this budget. I want all of us to bring our stakeholders to the heart of our operations.”
He said many businesses in Nigeria depend on the activities of the NCS to successfully run their operations, adding that it would be detrimental for the service to disappoint.
Adeniyi said, “We have a country where economic operators, importers and exporters depend a lot on our processes, commitment and efficiency to run their own businesses. We cannot afford to disappoint these stakeholders.
“We cannot afford to disappoint the economy and the President, who has given us this opportunity and special privilege to be in charge of this critical aspect of our economic development. So I want you to lead the charge with integrity at the back of our mind.
“My charge to all officers and men of the Nigeria Customs Service in 2024 is to realise the burden on our shoulders and work assiduously together as a team to achieve the mandates before us.”
Adeniyi had on December 11, 2023, during his appearance before the House of Representatives Committee on Appropriations, stated that the Customs had a revenue target of over N5 trillion in 2024, but the lawmakers pushed for N6 trillion.
The customs boss had explained that the major source of revenue for the service was duty charged on all goods imported into the country.
Adeniyi also stated that another revenue source which the Customs was trying to improve was the excise duty charged on locally produced goods.
He explained that in 2023, excise duty accounted for almost 17-18 percent of the total revenue, noting that customs was targeting N333 billion in this regard in 2024.
Also at the meeting, the Chairman of the House Committee on Appropriations, Abubakar Bichi, had told Adeniyi that Customs should increase the revenue target to N6 trillion because the government would need the money to finance several projects.
“Is there any possibility to increase your target in 2024? Because as I said earlier, we need more revenue and you have done very well in 2023.
“We will be glad if you can improve from that N5 trillion to N6 trillion. I am sure even the President will be very happy to see that the Nigeria Customs come up with almost N6 trillion from their revenue,” the lawmaker had stated.
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