By Ayomide Otitoju
The Nigeria Customs Service (NCS) has announced a record revenue collection of ₦1.75 trillion for the first quarter of 2025, exceeding its quarterly benchmark by ₦106.5 billion and achieving 106.47 percent of its projection. This figure represents a 29.96 percent increase compared to the ₦1.35 trillion generated during the same period in 2024
Comptroller-General Adewale Adeniyi disclosed these figures at a press briefing in Abuja, attributing the impressive performance to ongoing reforms under President Bola Ahmed Tinubu’s administration and the oversight of the Minister of Finance, Mr. Olawale Edun. Adeniyi emphasized that these reforms have strengthened revenue collection and curbed losses, while facilitating compliant trade
Breakdown of Monthly Revenue
- January: ₦647.88 billion collected, surpassing the monthly target of ₦548.33 billion by 18.12 percent and marking a 65.77 percent year-on-year growth.
- February: ₦540.11 billion, exceeding the target by 1.3 percent and up 19.97 percent from February 2024.
- March: ₦563.52 billion, 2.7 percent above target and 11.22 percent higher than March 2024
Anti-Smuggling Operations and Seizures
The NCS reported 298 seizures in Q1 2025, with a total Duty Paid Value (DPV) of ₦7.7 billion—a 78.41 percent increase over Q4 2024. However, this figure is 19.7 percent lower than the ₦9.59 billion DPV recorded in Q1 2024, a reduction Adeniyi attributed to improved compliance among stakeholders and the deterrent effect of enforcement activities
Key seized items included:
- Rice: 159 cases, 135,474 bags valued at ₦939.31 million
- Petroleum products: 61 seizures, 65,819 litres valued at ₦43.34 million
- Narcotics: 22 interceptions valued at ₦730.75 million
- Wildlife products: 3 high-value seizures with a DPV of ₦5.65 billion
- Textile fabrics: 13 cases, ₦134.22 million
- Retreaded tires: 5 cases, ₦104.60 million
- Pharmaceuticals: 1 case, ₦17.19 million
Trade and Economic Challenges
Adeniyi highlighted ongoing challenges, including exchange rate volatility, which saw 62 changes during the quarter, ranging from ₦1,477.72 to ₦1,569.53 per US dollar, with an average of ₦1,521.59. He noted that this volatility, though moderated compared to Q4 2024, continued to impact trade patterns and customs valuation.
Additionally, the NCS faces uncertainty over the 14 percent reciprocal tariff imposed on Nigerian exports by the United States, with stakeholders set to meet to formulate a coordinated response.
Duty Exemptions and Food Prices
The NCS reported that duty exemptions on food imports contributed to a 12–18 percent reduction in food prices during the quarter. Waivers included ₦45.3 billion FOB value for maize, ₦751.6 million for rice, and ₦2.3 billion for sorghum. Larger exemptions from 2024 on rice and wheat are now showing their full effect in the market, further stabilizing prices[4].
Strategic Focus for 2025
Looking ahead, Adeniyi said the NCS will continue to modernize its operations, expand its digital platforms, and implement advanced risk management systems. He reaffirmed the service’s commitment to transparency, enforcement, and stakeholder engagement, while acknowledging persistent challenges such as sophisticated smuggling networks and the operational impact of policy changes like the suspension of the Financial Customs Service Operation (FCSO).
“Let me emphasise that every statistic we share today represents the hard work of our customs officers – stopping illegal goods at our borders, enabling lawful trade, and securing vital government revenue,” Adeniyi stated.
The NCS’s robust performance in Q1 2025 sets a strong pace toward meeting its annual revenue target of ₦6.58 trillion.
