Revenue Performance Announcement
Distinguished guests, it is with great pride that I announce the remarkable revenue performance of the Nigeria Customs Service (NCS) for the year 2024. The Service has achieved an unprecedented milestone, collecting a total of ₦6,105,315,543,489.50 (Six Trillion, One Hundred and Five Billion, Three Hundred and Fifteen Million, Five Hundred and Forty-Three Thousand, Four Hundred and Eighty-Nine Naira, Fifty Kobo). This surpasses the set target of ₦5,079,069,866,085.50 by an impressive ₦1,026,245,677,404.00, reflecting a 20.2% increase above the goal.
This achievement also represents a historic 90.4% growth compared to the 2023 revenue of ₦3,206,583,002,675.65. It marks the highest year-on-year increase ever recorded by the NCS, surpassing the 52.24% growth achieved in 2022 by an additional 38.18 percentage points. Furthermore, in October 2024, the NCS recorded its highest-ever monthly revenue collection of ₦603,171,859,991.97.
The total revenue for 2024 is composed of three main components:
Federation Account Collections: ₦3,657,063,981,445.42 was generated through Import Duty, Excise Duty, Fees, E-Auction proceeds, and CET Levy.
Non-Federation Account Levies: ₦816,902,844,844.73 was collected as levies outside the Federation Account.
Value Added Tax (VAT): ₦1,631,348,717,199.35 was collected on imports.
It is important to highlight that these results were achieved despite significant concessions provided to stimulate the economy, which amounted to ₦1,682,302,648,880.67. These included ₦723,000,081,776.68 in import duty waivers, ₦372,649,650,951.72 in other levy concessions, and ₦586,652,916,152.27 in VAT relief. These strategic incentives were designed to support industrial growth, promote economic development, and improve the business environment in alignment with government policies.
Notably, the total concession value for 2024 reflects a significant reduction from ₦3,959,868,268,993.18 in 2023. This reduction can be attributed to the implementation of improved monitoring systems and targeted reforms that closed loopholes and curbed abuse in the concession process, ensuring that only eligible businesses benefited.
These exceptional achievements are a testament to the unwavering support of His Excellency, President Bola Ahmed Tinubu; the visionary leadership of the Honorable Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun; and the dedication of the entire NCS management and staff.
We remain committed to upholding excellence and contributing significantly to the nation’s economic growth.
TRADE FACILITATION:
At the start of 2024, the Nigeria Customs Service (NCS) committed to modernizing its operations and enhancing service delivery. While achieving remarkable revenue growth, the Service prioritized balancing revenue generation with trade facilitation. This balance, established through early-year commitments and revisited at the Comptroller-General of Customs Conference, served as a benchmark for 2024 performance.
Trade performance in 2024 showed significant growth despite global economic challenges. The Service processed imports valued at ₦60.29 trillion (CIF), a 117.4% increase from ₦27.74 trillion in 2023, through 1,262,988 transactions handling 15.35 billion kilograms of goods. Although the transaction volume decreased by 8.2% compared to 2023’s 1,376,514 transactions, the data suggests a shift toward higher-value goods in Nigeria’s import portfolio.
Export performance was equally notable, with CIF values surging to ₦136.65 trillion in 2024, up 219.5% from ₦42.77 trillion in 2023. The number of export transactions remained steady at 38,199 compared to 38,294 in 2023. However, export volume soared to 12.35 billion kilograms, a 234% increase from 3.70 billion kilograms in 2023. This indicates growing competitiveness of Nigerian products internationally.
Overall, the total trade value handled in 2024 reached ₦196.94 trillion, marking a 179.3% increase from ₦70.50 trillion in 2023. This growth reflects Nigeria’s evolving trade sophistication and the success of the NCS’s facilitation strategies.
In alignment with global best practices, the Service achieved key milestones in modernizing operations and enhancing security, including:
a. Advanced Ruling System:
Introduced in early 2024, this system provides pre-arrival classification and valuation decisions, reducing clearance delays and disputes. By the end of 2024, it processed 38 applications, with 15 rulings issued for transactions worth ₦102.93 billion. Stakeholder sensitization on this system is scheduled to begin January 15, 2025, in Lagos.
b. Authorized Economic Operator (AEO) Program:
The pilot phase of the AEO program significantly reduced cargo clearance times to an average of 43 hours, compared to 5 days previously. Full implementation is planned for the first quarter of 2025.
c. Time Release Study and Partnerships:
A comprehensive Time Release Study has been completed and will be released before mid-2025. Strategic partnerships with customs administrations worldwide facilitated intelligence sharing and capacity building, resulting in major interceptions at ports.
d. Technological Advancements:
The NCS began testing an indigenous customs clearance platform, “B’Odogwu,” in late 2024. Initial testing at the PTML command processed transactions worth ₦31 billion, showcasing its potential to enhance operational efficiency.
e. Stakeholder Engagement:
In 2024, the NCS strengthened partnerships with government agencies and private entities. Collaboration with the Healthcare Federation of Nigeria (HFN) improved the clearance of medical goods, aligning with national policies on healthcare accessibility and affordability.
f. Support for SMEs and Exporters:
To leverage opportunities under the African Continental Free Trade Agreement (AfCFTA), the NCS implemented initiatives supporting SMEs and exporters. These efforts led to robust participation of Nigerian brands at the Biashara Afrika forum in Kigali, earning recognition from the AfCFTA Secretariat.
The Nigeria Customs Service remains committed to fostering trade, modernizing operations, and supporting Nigeria’s economic growth in the years to come.
ANTI-SMUGGLING AND ENFORCEMENT:
In balancing revenue collection with trade facilitation, the Nigeria Customs Service (NCS) also prioritized addressing security concerns stemming from global and national threats. These efforts aimed to protect society from the entry of harmful substances and prevent the unauthorized export of restricted items. As part of these initiatives, the Service recorded 3,555 seizures in 2024, reflecting a remarkable 100.92% increase in the Duty Paid Value (DPV) of seizures from ₦17.56 billion in 2023 to ₦35.29 billion in 2024. The seizures, comprising a Cost, Insurance, and Freight (CIF) value of ₦28.46 billion and a total duty value of ₦6.83 billion, underscore the scale of economic sabotage prevented by the Service. These included traditional and emerging threats to Nigeria’s economic stability and national security.
Key highlights included the confiscation of 900 arms and 113,472 rounds of ammunition, along with 105 seizures of narcotics and other illicit drugs. This success was partly attributed to the declaration of a state of emergency at major entry points. Additionally, 40 seizures of unauthorized pharmaceutical products, amounting to 175,676 pieces and 6,271 cartons valued at ₦3.04 billion, safeguarded public health against counterfeit drugs. Enforcement actions also addressed environmental and wildlife crimes, with 76 seizures of animal and wildlife products worth ₦5.93 billion. Other significant seizures included 183,527 bags of rice, 3,785 bales of textiles valued at ₦945.9 million, as well as various restricted consumer goods, supporting local industries and Nigeria’s economic diversification agenda. The Service also seized 397 vehicles valued at ₦5.64 billion, ensuring compliance with import regulations and protecting government revenue.
The increasing sophistication of smuggling networks necessitated the enhancement of enforcement strategies. Collaborative efforts with national and international partners and the adoption of advanced detection technologies were key. Noteworthy among these was “Operation Whirlwind,” supported by the Office of the National Security Adviser (ONSA) and the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This operation led to the interception of 1,716,656 liters of petroleum products diverted for illicit export. Enforcement activities also resulted in 55 arrests of suspects under investigation, further disrupting criminal networks. These initiatives, aligned with national security and international obligations, reinforce NCS’s role in safeguarding legitimate trade.
Looking forward, the Service is enhancing its technological infrastructure by integrating geospatial technologies and other advanced tools to improve surveillance and enforcement operations. These investments, along with capacity-building programs and improved intelligence gathering, aim to keep the Service ahead of emerging threats while facilitating legitimate trade
CORPORATE SOCIAL RESPONSIBILITY AND STAKEHOLDER ENGAGEMENT:
In 2024, the NCS continued its commitment to corporate social responsibility (CSR), engaging actively with host communities and supporting local development initiatives. These activities fostered cooperation and understanding, facilitating the execution of the Service’s mandate.
As part of its strategic CSR initiatives for 2025, the Service plans to launch a comprehensive program aligned with President Bola Ahmed Tinubu’s Presidential Priority Areas and the United Nations Sustainable Development Goals (SDGs). These efforts aim to deliver impactful interventions that align with national priorities and community needs.
INFRASTRUCTURE AND FACILITY DEVELOPMENT:
In 2024, the NCS achieved significant milestones in its infrastructure development agenda, including the phased relocation to its new Corporate Headquarters. This transition, which began in Q4 2024, is expected to conclude by Q1 2025, enabling full operations from the state-of-the-art facility.
Other key developments included securing approval for the Nigeria Customs Service University for Trade and Technology in Badagry, Lagos. This institution is envisioned as a center of excellence for customs and trade-related studies in Nigeria and West Africa.
Additionally, the delivery of advanced scanning equipment at major ports enhanced the Service’s non-intrusive inspection capabilities, expediting cargo clearance while ensuring robust security protocols. These investments in infrastructure support the Service’s modernization agenda and operational efficiency.
CAPACITY DEVELOPMENT AND STRATEGIC HUMAN RESOURCE MANAGEMENT:
In 2024, the Nigeria Customs Service (NCS) reaffirmed its commitment to developing human capital, recognizing its workforce as the backbone of operational success. Capacity-building initiatives focused on equipping officers with skills to address evolving customs administration challenges.
A significant milestone was the promotion of 4,291 senior officers and 1,419 junior officers, one of the largest promotion exercises in recent history. Newly promoted comptrollers were also enrolled in strategic leadership courses to prepare them for higher responsibilities.
Training programs emphasized modern customs practices, covering areas such as risk management, post-clearance audits, valuation, classification, and enforcement techniques. Through international partnerships, officers received exposure to global best practices via physical and virtual training sessions with partner customs administrations.
To strengthen its workforce, the NCS initiated a recruitment exercise to attract fresh talent, addressing succession planning while aligning with the Service’s modernization goals. This investment in human capital underscores the Service’s commitment to delivering excellence in customs administration.
OUTLOOK FOR 2025:
As NCS transitions into 2025, its strategic priorities align with national economic objectives and global trade dynamics. With a revenue target of ₦6.58 trillion set by the Federal Government, the Service is poised to leverage its enhanced capabilities to achieve this ambitious goal.
Key priorities for 2025 include:
Nationwide rollout of the B’Odogwu platform.
Full implementation of the Authorized Economic Operator (AEO) program.
Expansion of risk management and enforcement technologies.
Operationalization of the NCS University for Trade and Technology.
Strengthening partnerships under the AfCFTA framework.
Implementation of a robust CSR strategy aligned with national and global development goals.
Promoting transparency and public access to customs information.
Ongoing modernization efforts will focus on digital transformation, geospatial surveillance, AI-driven risk management, and enhanced data analytics. Complementing these advancements will be continued investments in workforce development and infrastructure.
CLOSING REMARKS
The Comptroller-General expressed gratitude to President Bola Ahmed Tinubu and the Minister of Finance, Mr. Olawale Edun, for their support. Acknowledging the dedication of officers and stakeholders, he emphasized the Service’s commitment to exceeding expectations in 2025 through resilience, innovation, and collaboration.