The Nigeria Customs Service (NCS) has said it achieved a significant milestone by recording a total revenue collection of N3,206,603,417,315.47 in the 2023 fiscal year, a 21.4 percent increase from the preceding year’s total revenue of N2,641,616,673,501.83. The year’s collection is less than the N3.684 trillion revenue target for the service.
Comptroller-general of Customs Adewale Adeniyi who announced on Wednesday said 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.”
Operational challenges such as lower transaction volumes, compliance issues, inadequate infrastructure, and capacity gaps were said to have been compounded by delays in policy implementation and socio-political factors. The anxiety associated with a major election year, the prolonged cash crunch linked to the introduction of higher denominations of the new Naira bills are some of the factors Adeniyi said temporarily impacted purchasing power, closure of Nigeria’s northern borders with Niger Republic and other economic complexities in 2023.
According to him, the challenges led to a revenue shortfall of N532 billion in the first half of the year, falling short of the projected revenue target of N1.84 trillion.
Adeniyi who was appointed in July of 2023 said the service recorded a significant shift in the second half of the year to exceed monthly revenue targets by 6.71 percent for the first time in 2023. Monthly revenue collection for the latter half of the year averaged N332.9 billion, he said.
He said the NCS is set to inaugurate an electronic auction (e-auction) platform, in the upcoming week, strategically designed to enhance transparency in the auction process, saying that the actions signify NCS’s dedication to enhancing staff welfare and sustaining optimal performance.
The Customs CG said 3,806 seizures were made in 2023 with a duty paid value totalling N16, 049,023,262. The confiscations encompassed a diverse array of contraband, including arms and ammunition, artefacts and antiquities, illicit drugs, expired food produce, and endangered species of flora and fauna. “The NCS achieved 52 convictions, with 11 specifically linked to the illicit trade in Animal/Wildlife,” he said at a media briefing in Abuja yesterday.
He said the NCS has identified 21 relevant areas outlined in the policy advisory document of President Bola Tinubu’s eight priority areas which he said will continue to shape NCS’s operations throughout 2024, aligning with the broader policy goals of the government. The priority areas include food security, poverty eradication, growth, job creation, access to capital, inclusion, rule of law, and fighting corruption.