The Nigeria Customs Service reached its 2024 revenue target of N5.1 trillion on Tuesday, according to Comptroller-General Adewale Adeniyi.
Mr Adeniyi said this on Wednesday in Abuja at the opening ceremony of the 2024 Comptroller General Conference.
He said, “I am pleased to announce that yesterday, 12 November 2024, at exactly ten minutes past one, the NCS hit its 2024 revenue target of NGN 5.07 trillion, with more than a month remaining in the fiscal year.
“This exceptional performance, projected to exceed our target by at least 10 per cent, validates our partnership-driven approach to revenue collection and trade facilitation.
“The achievement is not merely about numbers; it demonstrates how enhanced stakeholder collaboration, improved processes, and modernised systems can deliver tangible results for our nation’s economy.”
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He stated that the Nigeria Customs Service’s modernization initiatives have been delivering immediate benefits to its stakeholders, and the service is committed to maintaining continuous improvement.
Mr. Adeniyi explained that the service has successfully implemented several key reforms, including the Authorised Economic Operators scheme, which currently has six participants in its pilot phase.
The customs chief also highlighted that the advanced ruling system had processed 31 requests, with 12 rulings issued and 75 percent completed in October, following efforts to engage stakeholders. Additionally, he noted that the introduction of 24-hour cargo clearance at major ports has significantly reduced dwell time.
“The completion of Nigeria’s first-time release study now provides us with empirical data to measure and improve our efficiency. Our enhanced risk management systems are streamlining operations, and the deployment of non-intrusive inspection equipment is accelerating cargo examination while maintaining robust controls,” he explained.
“An important moment in our’ enforcement strategy was the declaration of a state of emergency at our major ports.
“This led to the interception of 48 containers of illicit pharmaceutical items and narcotics, significantly disrupting the flow of potentially harmful products,” he said.
(NAN).
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