Customs announces N1.75tr revenue collection, up nearly 30% YoY
By Jeph Ajobaju, Chief Copy Editor
Up to N1.751 trillion revenue was collected in the first quarter of 2025 (Q1 2025) by the Nigeria Customs Service (NCS), up nearly 30% year-on-year (YoY) on Q1 2024.
NCS Comptroller General Bashir Adeniyi disclosed in Abuja that the service surpassed its revenue projection for Q1 2025, having achieved 106.47 per cent intake.
He added that the amount is a 29.96 per cent increase year-on-year (YoY) versus N1.347 trillion collected in Q1 2024.
“We believe the public has the right to know what is happening in the Nigeria Customs. I am pleased to report N1.751 trillion revenue collection in the first quarter of 2025,”Adeniyi said.
“Against our annual target of N6,580,000,000,000.00, the first quarter’s proportional benchmark stood at N1,645,000,000,000.00. I’m proud to announce we’ve exceeded this target by N106.5 billion, achieving 106.47 percent of our quarterly projection.
“This outstanding performance represents a substantial 29.96 percent increase compared to the same period in 2024, where we collected N1,347,705,251,658.31.
“Our month-by-month analysis reveals even more encouraging details of this growth trajectory. January’s collection of N647,880,245,243.67 not only surpassed its monthly target of N548.33 billion by 18.12 percent but also showed a remarkable 65.7 percent year-on-year growth.
“February’s N540,105,439,535.18 exceeded its target by 1.3 percent while achieving 19.97 percent growth over 2024 figures. March maintained this positive trend with N563,516,567,519.20, delivering 2.7 percent above target and an 11.22 percent improvement over March 2024.
“The Nigeria Customs Service maintained robust anti-smuggling operations during the first quarter of 2025, recording 298 seizures with a total Duty Paid Value (DPV) of N7,698,557,347.67.
“This represents a significant 78.41 percent increase compared to the N4,315,162,568.35 recorded in Q4 2024, demonstrating heightened operational effectiveness.
“However, when compared to Q1 2024’s N9,587,256,998.05, the service observed a 19.70 percent reduction in DPV, attributable to improved compliance through sustained stakeholder engagement and the deterrent effect of our enforcement activities.”
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