The Nigerian Customs Service (NCS) has reported an increase of 66.5% in monthly revenue collection over a four-month period from July to October 2023.
Mr. Adewale Adeniyi, the Comptroller-General of the Nigeria Customs Service, made this announcement during a national workshop on legislative compliance held in Abuja.
Themed “The Imperatives of Legislative Compliance in Deepening Democracy and Good Governance,” the workshop provided a platform for Adeniyi to share this encouraging news.
He revealed that the NCS collected an average revenue of N202 billion in the first half of the year, and by October, the monthly revenue collection had reached a substantial N333.9 billion, marking a significant 66.5% increase in revenue.
The surge in revenue collection is attributed to the collaborative efforts of the Nigerian Customs Service and the National Assembly, leading to the review and enhancement of tariff structures and regulations.
Adeniyi also emphasized the NCS’s ability to optimize revenue collection, ensuring that funds are available for national development projects.
“One of our early achievements has been a remarkable boost in monthly revenue collection.
“I am delighted to announce that we have consistently exceeded the monthly target collection of N307 billion, marking a remarkable departure from previous performances.
“The joint efforts of the NCS and the legislative arm of government have allowed us to respond effectively to public concerns and petitions,’’ he said.
Adeniyi pointed out budgetary constraints as a significant challenge that limits the NCS’s capacity to enforce compliance, acquire modern technology, and organize necessary personnel training and recruitment.
Additionally, he highlighted inadequate infrastructure and technology at border posts as potential obstacles that could impede the Customs Service’s ability to inspect and regulate trade effectively, leaving room for non-compliance.
