The Nigeria Customs Service (NCS) has reported a revenue generation of ₦1.75 trillion for the first quarter of 2025, surpassing its target by ₦106.5 billion.
However, the agency noted that the achievement came despite significant challenges, particularly the volatility in exchange rates which has disrupted trade patterns and customs valuation.
Comptroller General Adewale Adeniyi stated during a media briefing in Abuja that the Service collected a total of ₦1,751,502,252,298.05 from January to March, achieving 106.47 percent of its quarterly benchmark. Monthly revenue collections showed strong performance, with January alone generating ₦647.88 billion, an 18.12 percent increase over the target. February and March also exceeded projections, contributing to a 29.96 percent increase compared to the same period in 2024.
The agency also recorded 298 seizures during the quarter, amounting to a duty-paid value of ₦7.7 billion. These included over 135,000 bags of rice, narcotics worth ₦730.7 million, and wildlife products valued at ₦5.65 billion. Adeniyi said the seizures reflect a deliberate focus on high-risk, high-value contraband, supported by intelligence and technological tools.
Trade facilitation activities saw 327,928 import declarations processed, with total cargo weight exceeding 4.9 billion kilograms and a combined CIF value of ₦14.8 trillion. Export volumes increased sharply by 348 percent in terms of mass, though transaction numbers fell by 24.4 percent, indicating a shift toward bulk commodity exports. The total trade value processed for Q1 stood at ₦36.3 trillion.
Initiatives such as the expansion of the B’Odogwu clearance platform, the launch of the Authorised Economic Operators programme, and the “Customs Cares” corporate social responsibility project were also introduced during the quarter.
Despite these gains, Adeniyi highlighted 62 exchange rate changes during the quarter, ranging from ₦1,477.72 to ₦1,569.53 per US dollar, with an average rate of ₦1,521.59. This volatility, he said, hampers trade predictability and planning. He also pointed to other challenges including the suspension of the Financial Customs Service Operation and a 14 percent reciprocal tariff on Nigerian exports imposed by the United States.
Looking forward, the NCS plans to deepen its modernization efforts, improve service delivery, and continue supporting national development goals through enhanced trade facilitation and revenue generation.
