Senate Approves ₦11trn Revenue Target For Customs
The committee also approved a N1.235 trillion spending plan and cited Customs’ 2025 revenue outperformance as evidence the target is achievable.
- On Monday, the Senate Committee on Customs approved a N11 trillion revenue target for the Nigeria Customs Service for the 2026 fiscal year during a budget defence session in Abuja.
- Customs officials surpassed their 2025 revenue target, generating N7.277 trillion against a projected N6.584 trillion, marking a 10.24 per cent increase despite fiscal policy interventions and global economic disruptions.
- Comptroller-General Adewale Adeniyi detailed the 2026 projection, which includes N5.542 trillion from Federation Account revenue, N1.491 trillion from non-Federation collections, N2.773 trillion from Import VAT, and N1.266 trillion from Free-on-Board collections.
- Adeniyi attributed trade disruptions to the Russia-Ukraine conflict and Middle East tensions, noting, "The Middle East crisis has affected cargo coming into our ports," which impacted strategic commodity imports.
- Senate Committee Chairman Senator Isah Jibrin praised ongoing reforms including the Indigenous Unified Customs Information System and the tenure extension granted by President Bola Tinubu, expressing confidence in the agency's target achievement.
13 Articles
13 Articles
Customs surpasses 2025 revenue target, projects N11tn for 2026
The NCS initially projected ₦6.584 trillion in revenue for 2025, based on its approved budget, but generated ₦7.277 trillion, representing a 10.24 per cent increase over the target. The post Customs surpasses 2025 revenue target, projects N11tn for 2026 appeared first on Premium Times Nigeria.
Senate Approves ₦11trn Revenue Target For Customs
The Senate has approved a ₦11 trillion revenue target for the Nigeria Customs Service for the 2026 fiscal year, following the agency’s budget defence session before the relevant committee.Chairman of the Senate committee on Customs, Senator Isah Jibril, made the declaration during a budget defence session with officials of the Nigeria Customs Service led by the Comptroller-General, Adewale Adeniyi, on Monday.Speaking during the session, Adeniyi …
Customs exceeds 2025 revenue target, seeks approval for N11.27tn 2026 budget
By Gift ChapiOdekina, Abuja ABUJA — The Nigeria Customs Service (NCS) says it generated ₦7.277 trillion in revenue in 2025, exceeding its target of ₦6.584 trillion by 10.24 per cent, as it presented a proposed ₦11.274 trillion revenue target and expenditure estimates for the 2026 fiscal year to the House of Representatives Committee on Customs […] The post Customs exceeds 2025 revenue target, seeks approval for N11.27tn 2026 budget appeared firs…
Customs sets N11.07 trillion revenue target for 2026
The approval comes after lawmakers previously proposed increasing the agency's 2025 revenue target from N6.584 trillion to as much as N10 trillion, reflecting confidence in Customs' ability to boost Nigeria's non-oil revenue.
Coverage Details
Bias Distribution
- 60% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
