Customs targets N11.074trn revenue for 2026, to exceed 2025 mark

The Nigerian Customs Service (NCS) declared Monday that its revenue target for the 2026 fiscal year is N11.074 trillion, almost double of the N6.584 trillion targeted in 2025, which it exceeded by N674 billion after generating N7. 277 trillion.

This is as the Senate and the House of Representatives Committees on Customs, commended President Bola Ahmed Tinubu for extending the tenure of the Comptroller-General of Customs, Bashir Adewale Adeniyi, for six months.

The ambitious revenue target of Customs for 2026 fiscal year, was separately made by its Comptroller – General  during budget defence session before the Senate and House of Representatives Committees.

The Comptroller – General at the committee session in the Senate, said out of the projected N11.074 trillion for 2026,, N4.43 trillion had been realised as at 31st of May.

Expenditure proposal of Customs in 2026, according to him, is N1.235 trillion out of which N421 billion is earmarked for personnel cost , N307 billion for overhead cost and N565 billion for capital expenditure.

On budget performance for 2025, the Customs boss told the committee that while N6.584 trillion was targeted as revenue, N7. 277 trillion was generated, showing excess of N674 billion, about 10.24% positive variance.

He, however, said Customs would have generated more in 2025 but some policies of government like CNG / Electric Vehicles Tariff, the yet to be implemented Green Tax etc  affected its operations.

“In 2026, despite the major Elephant in the room which is the crisis in the Middle East, Customs is determined to achieve its revenue target of N11.074 trillion or even surpass it,” he said.

Elated by the ambitious revenue projection  for 2026 and target surpassing in 2025, the chairman of the committee, Senator Jibrin Isah (Kogi East), congratulated the Customs boss on the six month tenure extension given him by President Tinubu last month.

“Customs under your leadership has been transformed through series of revenue generating reforms, improved anti – smuggling measures, improved trade facilitation and provision of required infrastructure for ease of doing business.

“Please work harder in 2026 to actualize your budget dreams and projections,” he said.

He thereafter put to voice votes among members of the committee, the 2026 budget proposal of the Customs as presented by its CG and got approval of all the members in attendance.