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The Senate has approved the Nigerian Customs Service (NCS) 2026 budget with a proposed revenue target of N11.074 trillion and an expenditure estimate of N1.295 trillion.
This came after the Senate considered and adopted the report of its Committee on Customs, Excise and Tariffs, chaired by Isah Jibrin, on Wednesday.
Presenting the report, Jibrin said the committee examined the Service’s 2025 budget implementation and found that Customs exceeded its revenue target by generating N7.2 trillion against the approved target of N6.5 trillion, representing a performance of about 110.5 per cent.
He, however, noted that the revenue could have been higher but for fiscal policies designed to encourage local production, as well as disruptions to international trade arising from the Russia-Ukraine conflict, which affected imports, including wheat.
On expenditure, the committee chairman said Customs had an approved 2025 budget of N1.132 trillion but spent about N591 billion during the year.
He attributed the low level of budget implementation to delays in securing approvals from relevant government agencies, particularly the Bureau of Public Procurement (BPP), adding that projects not executed in 2025 would be carried forward into the 2026 fiscal year.
For 2026, the Customs Service projected a revenue target of N11.074 trillion, which the committee said would be driven by wider deployment of technology, strengthened revenue recovery mechanisms, real-time systems audits and improved trade facilitation.
The proposed expenditure of N1.295 trillion, he said, consists of N421 billion for personnel costs, N307 billion for overhead and N565 billion for capital projects, with priority given to the completion of the Service’s new headquarters and other ongoing infrastructure projects.
Jibrin also informed lawmakers that the Service’s major source of funding remains the four per cent Free-on-Board (FOB) value of imports as provided under the Nigeria Customs Service Act.
“The committee, having considered the proposed 2026 budget, recommends that the Senate approve the proposed revenue target of N11,074,359,357,179 and the proposed expenditure estimate of N1,295,409,849,722.19 for the 2026 financial year,” he said.
Supporting the report, Deputy Senate President Barau Jibrin praised the Customs management for exceeding its 2025 revenue target while maintaining what he described as prudent spending.
“They were expected to generate N6.5 trillion but ended up collecting N7.2 trillion. That is a remarkable achievement worthy of commendation,” he said.
Barau also applauded the Service for proposing an expenditure of N1.295 trillion despite its strong revenue performance, describing the budget as evidence of fiscal discipline.
He further commended Customs for allocating more resources to capital projects than overhead costs, saying the spending pattern demonstrated prudence and commitment to national development.
“The officers and men of the Nigeria Customs Service are doing a wonderful job. They are showing prudence, patriotism and innovation by bringing more revenue into the coffers of the nation,” he added.
Following the adoption of the committee’s recommendations, the Senate unanimously approved the proposed revenue target and expenditure estimates for the Nigerian Customs Service for the 2026 fiscal year.
Senate President Godswill Akpabio commended the committee for its detailed scrutiny of the budget proposal and congratulated the Nigeria Customs Service on the approval of its 2026 budget.
