Nigeria Customs Service (NCS) was one of the few government agencies whose performance in 2024 reflected the Renewed Hope of President Bola Ahmed Tinubu.

 

Customs remained a cornerstone of national economic development, showcasing consistent growth in revenue collection and trade facilitation. Importantly, Comptroller-General of Customs, Bashir Adewale Adeniyi MFR, guided the Service towards building new partnerships and deepening collaborations with national, regional and international partners.

 

After attaining a historic sum of over N6.1trillion amid challenges in the maritime sector, the Customs helmsman observed that Customs duties collection historically demonstrated growth since 1891 when the revenue stood at £516,817 (equivalent to ¦ 604.7 million today); in 1960 when the figure had grown to £55,918,367. Achieving ¦ 3.2 trillion in 2023 set the stage for the record-breaking performance of 2024, demonstrating the Service’s ability to adapt and thrive amidst evolving economic conditions.

 

Unprecedented Revenue Performance in 2024

 

The Nigeria Customs Service achieved a historic revenue collection of ¦ 6.1 trillion in 2024, exceeding its target of ¦ 5.1 trillion by over ¦ 1 trillion. This represented a 20.2% increase above the target and an impressive 90.4% growth compared to the N3.2 trillion collected in 2023. Notably, October 2024 witnessed a historic milestone with the highest monthly revenue collection reaching N603.17 billion.

 

The 2024 revenue comprised three key components: Federation Account collections amounting to ¦ 3.66 trillion, Non-Federation Account levies of ¦ 816.9 billion, and Value Added Tax (VAT) collections on imports totaling ¦ 1.63 trillion. These figures were achieved despite concessions worth ¦ 1.68 trillion granted to stimulate economic growth, a reduction from the N3.96 trillion recorded in 2023. The concessions included import duty waivers, levy concessions, and VAT relief, reflecting strategic reforms aimed at curbing abuse and ensuring genuine beneficiaries.

 

Trade Facilitation and Economic Growth

 

In 2024, the NCS demonstrated its commitment to balancing revenue generation with trade facilitation. The total trade value processed by the Service reached an unprecedented ¦ 196.94 trillion, a 179.3% increase from ¦ 70.5 trillion in 2023. This growth was driven by significant increases in both import and export values.

 

Imports for the year, with a Cost, Insurance, and Freight (CIF) value of ¦ 60.29 trillion, marked a 117.4% increase over the previous year. Despite an 8.2% decline in the volume of import transactions, the higher trade value reflected a shift towards higher-value goods. On the export side, the CIF value rose by an astounding 219.5% to N136.65 trillion, accompanied by a 234% increase in export mass, indicating the growing competitiveness of Nigerian products in international markets.

 

Key Initiatives and Achievements

 

In 2024, the Nigeria Customs Service (NCS) significantly enhanced its anti-smuggling and enforcement operations, achieving a 100.92% increase in the Duty Paid Value (DPV) of seizures, from ¦ 17.56 billion in 2023 to ¦ 35.29 billion. This surge reflects the Service’s intensified efforts to combat economic sabotage and protect national security.

 

The Service implemented several strategic measures in 2024 to modernize operations and enhance trade facilitation. The introduction of the Advanced Ruling System allowed for pre-arrival classifications, reducing delays and disputes in customs clearance. The Authorized Economic Operator (AEO) program, piloted in 2024, significantly reduced cargo clearance times for certified companies, setting the stage for its full implementation in 2025.

 

Technological advancements included the launch of the indigenously developed customs clearance platform, “B’Odogwu,” which processed transactions worth ¦ 31 billion during its pilot phase. The platform underscored the NCS’s commitment to leveraging homegrown solutions to streamline operations and improve efficiency.

 

Enhanced stakeholder engagement was another highlight of 2024. The Service collaborated with the Healthcare Federation of Nigeria (HFN) to address challenges in clearing medical goods and engaged with Partner Government Agencies (PGAs) to enhance trade facilitation. These efforts contributed to the NCS’s improved ranking in the Presidential Enabling Business Environment Council (PEBEC) evaluation, where it advanced 33 places, reflecting tangible improvements in cross-border trade facilitation.

 

Future Projections

 

Under the leadership of Comptroller-General Bashir Adewale Adeniyi, the NCS has set a benchmark for excellence in revenue generation and trade facilitation. The Service’s achievements in 2024 underscore its critical role in driving Nigeria’s economic growth, fostering international trade, and supporting national development. As the NCS looks to build on its successes, it remains committed to adopting global best practices, enhancing operational efficiency, and ensuring a conducive business environment for stakeholders.