Thu. Feb 13th, 2025

NCS Surpasses Revenue Targets With N2.74 Trillion In Mid-Year Performance

The Nigeria Customs Service (NCS) has released its mid-year performance report, showcasing significant achievements in revenue collection, trade facilitation, and anti-smuggling operations. The report highlights the Service’s commitment to supporting President Bola Ahmed Tinubu’s administration and delivering a transparent and efficient customs system under the leadership of Comptroller-General Bashir Adewale Adeniyi.

In the first half of 2024, the NCS collected N2.74 trillion in revenue, surpassing its half-year target of N2.54 trillion by 8% and marking a 127% increase over the previous year’s revenue. The second quarter alone saw a collection of N1.395 trillion, exceeding the quarterly target by 10% and representing a 131% increase over Q2 2023. Notable initiatives contributing to this success include the e-auction platform, which generated over N1.34 billion, and the 90-day duty payment window for uncustomed vehicles, adding N4.37 billion to the revenue.

The NCS intensified its anti-smuggling operations in the first half of 2024, making 2,442 seizures with a Duty Paid Value (DPV) of NGN 25.52 billion, a 203% increase compared to the first half of 2023. In the second quarter, 1,334 seizures were made with a DPV of NGN 17.56 billion, representing a 121% increase over the first quarter of 2024. The top items seized included wildlife, vehicles, arms and ammunition, foreign rice, pharmaceuticals, and narcotics, with 32 suspects in custody.

Trade facilitation remains a core priority for the NCS, which processed 620,467 Single Goods Declarations (SGDs) in the first half of 2024, reflecting a 39% reduction compared to the same period in 2023. Despite this decline, the NCS has implemented several initiatives to streamline and expedite customs processes, including reinforcing automation procedures, capacity-building programs for officers, and public-private partnerships to enhance customs clearance efficiency.

The NCS faced challenges such as fluctuations in the exchange rate, lower transaction volumes, low compliance levels among importers and exporters, and periodic downtime. To address these challenges, the NCS implemented strategies like real-time system auditing, post-clearance audits, verification of documents for the Pre-Arrival Assessment Report (PAAR), and the pilot test for the Authorized Economic Operators (AEO) scheme.

Additionally, the NCS introduced the Advance Ruling System (ARS), a legally binding decision on classification, valuation, and rules of origin before the importation or exportation of goods. Other measures to increase revenue included establishing a robust framework for dispute resolution, launching Operation Whirlwind, reshuffling strategic-level officers, and engaging stakeholders.

Comptroller-General Adeniyi commended all NCS officers and stakeholders for their dedication and contributions to achieving these milestones. He reaffirmed the NCS’s commitment to supporting government policies for a better Nigeria.

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