The House of Representatives has approved the N1.13 trillion Nigeria Customs Service budget for the 2025 fiscal year.
Out of the total sum, N1.070 trillion is for cost of service, N33 billion is for the 2% share of imports Value Added Tax(VAT), N29.05 billion is for funds accrued for ongoing capital projects, N247.15 billion is for personnel costs, N239.97 billion is for overhead expenses, and N645.41 billion is for capital costs for the fiscal year 2025.
This was a sequel to the approval of the report of the House committee on customs and exercise, chaired by Hon. Leke Abejide (ADC, Kogi), by the committee of supply at plenary on Wednesday.
The House also approved the committee’s recommendations on customs and excise, which asked the Customs Service to reintroduce excise on telecommunication services and single-use plastics policies.
It also urged the service to “stop the collection of 1% Comprehensive Import Supervision Scheme (CISS) and 7% cost of collection not backed by any known law, which is an Act of Parliament.
“Stick to the legal 4% Free-On-Board (FOB) as their only source of income, as signed into Law by the President of the Federal Republic of Nigeria in the Laws of the Federation of Nigeria.
“Make substantial provisions for Corporate Social Responsibility (CSR) to foster harmonious relationships with the border communities.”
