Nigeria Customs Service Earmarks N1.13 Trillion for 2025 Operations

The Nigeria Customs Service (NCS) has allocated N1.13 trillion for its 2025 operations, targeting enhanced revenue generation for the nation. 

This was revealed on Monday in Abuja by Deputy Comptroller-General for Finance, Administration, and Technical Services, Mr. Bello Jibo.

Jibo spoke at the 2025 budget defence session organised by the House of Representatives Committee on Customs and Excise.

In his presentation, Jibo said the sum of N247.1 billion, which represents 21.8 per cent of the budget, is for Personnel Cost.

He said that the sum of N239.9 billion which represents 21.1 per cent of the budget is for Overhead Cost while the sum of N645.4 billion which represents 56.9 per cent is for Capital Cost.

He prayed the National Assembly to consider and approve the proposed budget for the smooth operation of the service.

Jibo recalled that the service was able to generate the sum of N6.105 Tillion in 2024 despite attendant high revenue grants to duty exemptions, waivers, and concessions.

“This is despite continuous drop in cargo throughput due to economic stiffness, the effect of currency floatation that results in unfavourable trade volume and the expected revenue inflow.

“In the face of the de-excise of many excisable commodities, leaving only a few; cigarettes, beer, and alcoholic beverages and government policy measure that exempted payments of Customs Duties and import VAT on some essential food commodities in 2024 among others,” he said.

NAN