The Nigeria Customs Service (NCS) has set an ambitious revenue target of ₦11.074 trillion for the 2026 fiscal year after exceeding its 2025 revenue target by ₦674 billion.
The Comptroller-General of Customs, Bashir Adewale Adeniyi, disclosed this on Monday while defending the agency’s 2026 budget proposal before the Senate and House of Representatives Committees on Customs.
According to Adeniyi, the service generated ₦7.277 trillion in 2025, surpassing its revenue target of ₦6.584 trillion by ₦674 billion, representing a positive variance of about 10.24 per cent.
He added that despite the ambitious target for 2026, the service had already realised ₦4.43 trillion as of May 31, reflecting strong revenue performance.
The Customs boss also presented a proposed ₦1.235 trillion expenditure budget for 2026, comprising ₦421 billion for personnel costs, ₦307 billion for overheads and ₦565 billion for capital projects.
Adeniyi noted that revenue generation in 2025 could have been higher but for government policies, including tariff concessions on Compressed Natural Gas (CNG) and electric vehicles, as well as the delayed implementation of the Green Tax.
He, however, expressed confidence that the service would meet or even exceed its 2026 revenue target despite global economic uncertainties, including the crisis in the Middle East.
The Chairman of the Senate Committee on Customs, Jibrin Isah, commended the Customs leadership for its performance and congratulated Adeniyi on the six-month extension of his tenure recently approved by President Bola Ahmed Tinubu.
Isah attributed the service’s improved performance to reforms in revenue collection, enhanced anti-smuggling operations, trade facilitation and investments in infrastructure to improve the ease of doing business.
The committee subsequently approved the 2026 budget proposal through a voice vote, with members expressing confidence in the service’s capacity to deliver on its revenue projections.