The Nigeria Customs Service (NCS) has announced a new revenue target of N11.074 trillion for the 2026 financial year following its impressive revenue performance in 2025.
The Comptroller-General of Customs, Bashir Adewale Adeniyi, made this known during the agency’s budget presentation before the Senate and House of Representatives Committees on Customs.
According to Adeniyi, the Customs Service collected N7.277 trillion in 2025, which was higher than its target of N6.584 trillion. This means the agency generated an extra N674 billion, exceeding its goal by more than 10 percent. The revenue also showed a significant increase compared to the N6.1 trillioncollected in 2024.
He revealed that the strong performance has encouraged the agency to set a higher target for 2026. Adeniyi also disclosed that by May 31, 2026, the Service had already generated N4.43 trillion, representing about 40 percent of its annual revenue goal within the first five months of the year.
To support its operations, the Nigeria Customs Service proposed a 2026 budget of N1.235 trillion. The proposed spending includes N421 billion for workers’ salaries, N307 billion for overhead costs, and N565 billion for capital projects aimed at improving the agency’s operations.
Adeniyi said the agency’s success was driven by ongoing reforms, better revenue collection strategies, stronger anti-smuggling efforts, and improved trade facilitation. However, he noted that some government policies affected revenue generation. These include tariff changes on Compressed Natural Gas (CNG) and electric vehicles, as well as the planned Green Tax, which is yet to be introduced.
The Customs Service maintained strong revenue growth throughout 2025. In the first quarter alone, it collected N1.75 trillion, surpassing its quarterly target and recording nearly a 30 percent increase compared to the same period in 2024.
By the middle of the year, Customs had generated about N3.6 trillion, exceeding its six-month target by almost N390 billion. The agency’s steady performance strengthened confidence in its ability to meet future revenue goals.
Despite concerns over global economic challenges, especially the ongoing crisis in the Middle East, Adeniyi expressed confidence that the Service would achieve or even exceed its 2026 revenue target. He explained that international conflicts can affect global trade, shipping costs, fuel prices, and Nigeria’s import activities, which may influence Customs revenue.
Members of the National Assembly praised President Bola Ahmed Tinubu for extending Adeniyi’s tenure as Comptroller-General by six months. Lawmakers said the extension would allow the Customs Service to continue its reforms and improve revenue generation.
Chairman of the Senate Committee on Customs, Senator Jibrin Isah, commended Adeniyi for transforming the agency through improved trade processes, anti-smuggling operations, and better infrastructure that supports businesses.
The Senate Committee later approved the Nigeria Customs Service’s 2026 budget proposal through a voice vote. Lawmakers expressed confidence that the agency would continue playing a major role in increasing Nigeria’s non-oil revenue and strengthening the country’s economy.
