Abuja, June 23, 2025, 8:56 PM IST – The Nigeria Customs Service (NCS) has proposed a N1.132 trillion budget for its 2025 operations, aimed at enhancing revenue generation and operational efficiency, as presented to the House of Representatives Committee on Customs and Excise on June 23, 2025. Deputy Comptroller-General Bello Jibo, representing Comptroller-General Bashir Adewale Adeniyi, detailed the budget during a defense session in Abuja, seeking National Assembly approval.
The budget allocates N247.1 billion (21.8%) for personnel costs, N239.9 billion (21.1%) for overhead costs, and N645.4 billion (56.9%) for capital projects, including the E-Customs Modernisation Project to digitize cargo processing. Jibo highlighted NCS’s 2024 performance, surpassing its N5.079 trillion target by generating N6.105 trillion, a 20.2% increase, despite challenges like zero revenue from the 1% Comprehensive Import Suspension Scheme (CISS).
The committee approved the budget but raised concerns over 2024’s underfunding, with personnel costs at 43.53%, overhead at 46.34%, and capital projects at 45.68%. Lawmakers questioned the legality of CISS and the 7% Cost of Collection, citing only the 4% Free-On-Board (FOB) as lawful under the NCS Act 2023. For 2025, NCS targets N6.584 trillion in revenue, including N3.853 trillion for the federation, N1.081 billion non-federation, and N1.650 trillion from import VAT.
X posts reflect mixed sentiment, with @Imranmuhdz noting the N12 trillion revenue target set by lawmakers, far above NCS’s N6.58 trillion goal, signaling high expectations.