From Charity Nwakaudu, Abuja
The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi has revealed that its revenue target for this year is N5.79 trillion.
He also stated that the Service exceeded its 2023 target to hit N3.2 trillion, adding that the feat could be attributed to strategic measures, including the immediate establishment of a Revenue Review Recovery Team and the dissolution of existing Strike Force Teams, streamlining enforcement under the Federal Operations Unit (FOU).
The NCS boss added that the strategic reassignments of Customs Area Controllers, the creation of an ideas bank, and extensive stakeholder engagements collectively contributed to this impressive resurgence of revenue in 2023.
He said: “For the fiscal year 2024, the NCS has been allocated a new revenue target of NGN 5.079 trillion, aligning with the government’s economic objectives. This target signifies the government’s confidence in the NCS’s capabilities and underscores the Service’s important role in contributing to the nation’s fiscal well-being.
“The strategic initiatives detailed above, alongside other operational reforms, are anticipated to play a crucial role in achieving this revenue goal.”
He explained that the significant increase in revenue collection by the service is expected to have a positive impact on the country’s economy.
Adeniyi added that the Service will continue to invest in modernizing its operations, strengthening collaboration with stakeholders, and intensifying training programmes for its personnel to further enhance revenue generation.
Adeniyi also acknowledged the challenges faced by NSC which led to a revenue shortfall of N532 billion in the first half of the year, falling short of the projected revenue target of NGN 1.84 trillion.
The Comptroller-General emphasized that the NCS remains committed to creating a business-friendly environment for trade while ensuring strict compliance with customs regulations and protocols.
He added, “A positive transformation occurred in the later part of the year, following my appointment as the Comptroller-General in July. This was accompanied by a merit-based reconstitution of the management team, resulting in a significant shift that enabled the Service to exceed monthly revenue targets by 6.71% for the first time in 2023”.