• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, September 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • 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
9 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.

Advertisement

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.

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.

RELATED NEWS

Strike: Government Assures Nigerians Of Steady Supply Of Refined Petroleum Products

Oil Workers, Dangote Dispute: Operator Warns Against Undermining National Grid Stability

Nigeria Eyes $108bn Construction Boom As Big 5 Expo Unites Industry Leaders

Ex-VP Namadi Sambo To Be Turbaned Sardaunan Zazzau

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.

 

 

Join Our WhatsApp Channel

Tags: NASSNational assembly
SendShare10168Tweet6355Share
Samson Elijah

Samson Elijah

OTHER NEWS UPDATES

Energy Group Hails Return Of Naira-for-Crude Policy
News

Strike: Government Assures Nigerians Of Steady Supply Of Refined Petroleum Products

35 minutes ago
Oil Workers, Dangote Dispute: Operator Warns Against Undermining National Grid Stability
News

Oil Workers, Dangote Dispute: Operator Warns Against Undermining National Grid Stability

37 minutes ago
Nigeria Eyes $108bn Construction Boom As Big 5 Expo Unites Industry Leaders
News

Nigeria Eyes $108bn Construction Boom As Big 5 Expo Unites Industry Leaders

40 minutes ago
Advertisement
Leadership Conference advertisement

LATEST

Strike: Government Assures Nigerians Of Steady Supply Of Refined Petroleum Products

Oil Workers, Dangote Dispute: Operator Warns Against Undermining National Grid Stability

Nigeria Eyes $108bn Construction Boom As Big 5 Expo Unites Industry Leaders

Ex-VP Namadi Sambo To Be Turbaned Sardaunan Zazzau

La Liga: Yamal Returns To Inspire Barca’s 2-1 Victory Over Real Sociedad

Dangote Refinery Accuses PENGASSAN Of ‘Lies, Terror Tactics’ Over Planned Nationwide Strike

Suspected Herdsmen Kill 2 Farmers In Benue

Gunmen Kill Village Head, 11 Vigilantes In Kwara

Lewandowski Seals Comeback Win As Barcelona Go Top

BBNaija10: Imisi, Dede, JasonJae, 5 Others Join Mensan, Sultana In Top 10

© 2025 Leadership Media Group - All Rights Reserved.

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

© 2025 Leadership Media Group - All Rights Reserved.