Home » Finance minister commends Customs N1.75trn Q1 revenue feat 
CUSTOMS

Finance minister commends Customs N1.75trn Q1 revenue feat 

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has commended the Comptroller-General of the Nigeria Customs Service Service (NCS), Bashir Adewale Adeniyi for the Service’s historic N1.75 trillion revenue generation achieved in the first quarter of 2025.

Edun made the commendation during the 62nd regular meeting of the NCS Board held on Tuesday, at the Customs Headquarters in Maitama, Abuja. The session was chaired by the minister, who led a high-powered delegation to assess the Service’s first-quarter performance and chart the path forward.

The board meeting served as a statutory forum to evaluate the Service’s operational strategies, fiscal contributions, and reform-driven activities, particularly in light of its Q1 2025 performance.

During the quarter, the NCS recorded a historic ₦1.75 trillion in revenue, exceeding its target by ₦106.5 billion and marking a nearly 30% increase compared to the same period in 2024.

Following the meeting, the minister expressed satisfaction with the Service’s progress but emphasised the need to scale up efforts to meet the country’s economic demands.

“As is expected and required, there is an improvement in the revenue of the Service, which is slightly above what was budgeted for the first quarter. However, much more is required, and more is expected of an institution that is pivotal in revenue,” Edun said.

He described the board meeting as productive and reaffirmed the importance of open governance and accountability within public institutions.

“It was a good meeting. It’s important that we maintain corporate governance oversight and consultation through these regular statutory meetings. At the end of the day, we will always ask that we do more to improve the revenue and the services operations to aid the Nigerian economy and serve the good people of Nigeria”, he remarked.

The meeting also touched on modernisation initiatives such as expanding the B’Odogwu (Unified Customs Management System), implementing the Authorised Economic Operators (AEO) programme, and enhancing anti-smuggling efforts—all aimed at boosting trade facilitation and national security.

Ad-Space-300x600
Ad-Space-300x250-1
Ad-Space-300x250-1

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

The Nigerian Economy - Towards Nigeria’s Economic Development | Economy News | Nigerian News

The Economy is an online newspaper focusing on delivery of top-notch economic, financial and business intelligence reports for economic development. It is published by Samhapp Integrated Services Ltd., 1, Ojogiwa Street (1st floor) Off Idumagbo Avenue, Lagos Island, Lagos State, Nigeria, West Africa

Edtior's Picks

Latest Articles

@2025 All rights reserved. The Nigerian Economy.

Reseller Hosting