Customs Exceeds N307bn Monthly Revenue Target

The Nigeria Customs Service (NCS) has announced that it surpassed its N307billion target for revenue collection by generating an average of N343 billion in two months (July and August 2023).

Acting Comptroller-general of Customs, Adewale Adeniyi, disclosed this on Thursday to mark his first 100 days in office.

He spoke on a policy document tagged: ‘A Vision for the Future of Nigeria Customs Service’ in Abuja.

LEADERSHIP reports that Adeniyi was appointed on June 19 by President Bola Tinubu.

“One of our early achievements has been a remarkable boost in monthly revenue collection. We’ve witnessed a substantial increase, with an average monthly collection of 202 billion in the first half of the year that concluded in June, surging to an impressive 343 billion in the past two months,” the Customs CG stated.

The Customs has a N3.6trillion revenue collection target for 2023. This translates to about 307 billion per month. During the first half of the year, we were practically struggling to raise a little 200 billion.

The growth amounts to 70.13 per cent increase in revenue collection. The CGC said the customs under his watch, has consistently exceeded the monthly target collection of N307 billion marking a remarkable departure from previous performances.

Adeniyi said the ongoing revenue recovery review activities have contributed an additional N8 billion during the two-month period, underlining the service’s commitment to revenue generation. He said the aim is to sustain and even expand the momentum until the end of this year.

“This commitment is driven by our resolve to minimize the deviation from the target, especially in light of the substantial shortfalls recorded during the year’s first half,” he stated.