• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, June 7, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

NASS Mandates Customs To Achieve N10.5trn Revenue Target For 2025

by Samson Elijah
5 months ago
in News
NASS
Share on WhatsAppShare on FacebookShare on XTelegram

The National Assembly Joint Committee on Finance has unanimously directed the Nigeria Customs Service (NCS) to implement stringent measures to block revenue leakages and meet the revised N10.5 trillion revenue target for 2025.

Advertisement

This resolution was reached during the 2025 budget defence and proposal sessions at the National Assembly, Abuja.

The lawmakers rejected the NCS’ initial revenue projection of N6.5 trillion, emphasizing improved personnel monitoring and addressing issues like under-declaration and other sharp practices at the nation’s ports.

The Chairman of the Senate Committee on Finance, Senator Sani Musa, stated that the N10.5 trillion target is realistic based on information from the Budget Office of the Federation.

He also warned that the revenue target might be increased to N12 trillion if the non-remittance of 80% of “Operating Surplus,” as mandated by the Fiscal Responsibility Act of 2007, is not addressed.

RELATED

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

23 minutes ago
I Will Deliver A New Niger State –Bago

Low Key Sallah In Niger As Bago, Etsu Nupe Urge Peace

24 minutes ago

Also, Victor Murako, Chairman of the Fiscal Responsibility Commission (FRC), revealed that the NCS owes the Consolidated Revenue Fund N8.6 billion as of 2019, citing its failure to remit the “Operating Surplus” since 2019 despite prior compliance from 2015 to 2019.

He noted that the NCS had yet to honour an agreement reached in 2023 following intervention by the Public Accounts Committee.

In response, NCS Comptroller General Adeniyi Adewale promised to resolve the issue of operating surplus within two weeks, working closely with the agency’s Legal Department.

He also highlighted ongoing efforts to implement a 4-cent Free on-board (FOB) charge in collaboration with the Ministry of Finance and the Office of the Accountant General of the Federation.

The lawmakers expressed dissatisfaction with the failure of some revenue-generating agencies to appear for the budget defence exercise.

Senator Sani Musa reminded agencies of President Bola Ahmed Tinubu’s directive that all agency heads defend their budgets responsibly.

“To our dismay, many agencies have refused to honour our invitations. We are giving these agencies 48 hours to appear before the joint committee. Failure to comply will lead to recommendations to withhold their budget allocations or funding,” Musa warned.

Rep. James Faleke, Chairman of the House Committee on Finance, reiterated that the budget defence exercise is critical to boosting revenue generation and reducing borrowing. “If these agencies refuse to appear before us, the National Assembly will take necessary action,” he stated.

The interactive session, attended by key agencies like the FIRS, Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), and the Nigeria Deposit Insurance Corporation (NDIC), underscored the importance of accountability in driving revenue generation and reducing financial deficits.

The lawmakers vowed to ensure strict compliance with fiscal policies and accountability to meet Nigeria’s economic targets for 2025.

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


Tags: NASSNational assembly
SendShareTweetShare
Previous Post

Weak Auditing, Accounting Systems Encouraging Corruption – Reps

Next Post

I Am Done Helping FG To Explain Economic Reforms – Emir Sanusi

Samson Elijah

Samson Elijah

You May Like

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth
Business

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

2025/06/07
I Will Deliver A New Niger State –Bago
News

Low Key Sallah In Niger As Bago, Etsu Nupe Urge Peace

2025/06/07
Plateau Court Sentences 2 To Death For Homicide
News

Plateau Govt Engages 20,000 Youths In Agro-Industrial Chains

2025/06/07
55 Killed, Children Missing In Sustained Attack On Benue Communities
News

Benue Govt Orders Residents To Vacate Flood-Prone Areas

2025/06/07
NASIEC Fixes Nov 2 For Nasarawa LG Polls
News

Nasarawa Building Renewable Energy Future Through Lithium – Commissioner

2025/06/07
Tinubu Commiserates With Ex-Kogi West Senator Adeyemi Over Mother’s Death
News

Tinubu Commiserates With Ex-Kogi West Senator Adeyemi Over Mother’s Death

2025/06/07
Leadership Conference advertisement

LATEST

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

Low Key Sallah In Niger As Bago, Etsu Nupe Urge Peace

Plateau Govt Engages 20,000 Youths In Agro-Industrial Chains

Benue Govt Orders Residents To Vacate Flood-Prone Areas

Nasarawa Building Renewable Energy Future Through Lithium – Commissioner

Tinubu Commiserates With Ex-Kogi West Senator Adeyemi Over Mother’s Death

Eid al-Adha: Matawalle Urges National Unity, Prayers

Your Political Rating Is Ruined, PDP Professionals Tell Gov Eno

Tinubu Mourns ‘Gwo Gwo Ngwo’ Singer Mike Ejeagha

Governor Eno Leaves PDP For APC As Commissioners Decline

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.