Senate Approves N11.074trn Revenue Target for Customs
On Wednesday, the Senate approved a revenue target of N11.074 trillion for the Nigerian Customs Service for the fiscal year ending December 31, 2026. The agency's operational budget was set at N1.295 trillion.
Isah Jibrin Echocho, chair of the Senate Committee on Customs and Excise Duties, presented the report, commending the leadership of Bashir Adewal Adeniyi, the Comptroller General of Customs, for surpassing the 2025 revenue target by N674.10 billion. The Customs Service has been given a target of N6.584 trillion for general revenue and N7.277 trillion for an increase of 10.53% above the target.
As of June 2026, N4.4 trillion had already been generated. The agency plans to implement new excise regimes and adopt technology to improve revenue collection efficiency.
The strategies include leveraging the Unified Customs Information System (UCI), enhancing compliance through audits, and improving border management to prevent revenue leakage.
Plus234Feed summary based on reporting from Nigerian Tribune. Read the original report below.
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