By Abubakar Yunusa
The Nigeria Customs Service (NCS) says it collected N6.1 trillion in revenue in 2024.
Adewale Adeniyi, comptroller general of NCS, spoke in Abuja during a press briefing on its 2024 performance on Tuesday.
The figure represents an increase of N2.9 trillion or 90.4 percent compared to the N3.2 trillion recorded in 2023.
Adeniyi said customs surpassed its target for last year.
“In the year 2024, we collected a total sum of N6,105,315,543,489.50 kobo,” Adeniyi said.
“This performance surpassed our target of N5.07 trillion by N1.026 trillion, which represents a 22 percent increase over and above our target for 2024.
“This remarkable achievement represents a significant 90.4 percent increase from our 2023 collection of N3.2 trillion.
“This growth is historic, as it marks the highest year-on-year increase recorded by the service in recent times, surpassing the 52.24 percent growth recorded in 2022 by 38.18 percent.
“The total 2024 revenue collected comprises three main components. The first was the federation accounts and we had about N3.6 trillion.
“The second was the non-federation accounts levies where we had N816.9 billion and the third component was the value-added tax where we collected N1.6 trillion.
“It is pertinent to note that these collections were achieved despite significant concessions granted to support various sectors of the economy and this in 2024 was a total N1.68 trillion.”
In December 2023, the comptroller-general of customs said the agency was targeting N5.79 trillion as revenue for 2024.
However, Abubakar Bichi, chairman of the house of representatives committee on appropriations, told Adeniyi that customs should increase the revenue target to N6 trillion because the government needs money to finance several projects.
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