By The Nigeria Customs Service (NCS) has reported a revenue haul of ₦1.75 trillion in Q1 2025, exceeding its quarterly target by ₦106.5 billion and posting a 29.96% increase over Q1 2024, despite persistent challenges from volatile exchange rates.
Comptroller General Adewale Adeniyi, presenting the figures in Abuja on Tuesday, credited the increase to ongoing reform strategies and enhanced operational efficiency. “The 29.96 per cent annual increase and steady monthly collections confirm our strategy is working,” he stated.
Revenue Highlights:
Total revenue: ₦1,751,502,252,298.05 (Jan–Mar 2025)
Target achievement: 106.47% of ₦1.645 trillion goal
January collection: ₦647.88 billion (+18.12% over target)
Anti-Smuggling Successes:
The service conducted 298 seizures valued at ₦7.7 billion, targeting high-risk goods like:
135,474 bags of rice
65,819 liters of petroleum products
Narcotics worth ₦730.7 million
Wildlife products valued at ₦5.65 billion
Adeniyi said the NCS’s focus on high-value contraband has paid off, and added, “From rice to wildlife, these seizures show our targeted approach.
Trade Operations:
Import declarations: 327,928
Total CIF value: ₦14.8 trillion
Total trade handled: ₦36.3 trillion
Export shift: 24.4% drop in transaction numbers but 348% rise in export mass, pointing to bulk commodity exports.
Key Initiatives in Q1 2025:
Expansion of the B’Odogwu customs clearance platform
Launch of Authorised Economic Operators (AEO) programme
Rollout of “Customs Cares” CSR project across six areas including education and health
Duty waivers on essential food items like rice, maize, and sorghum, aiding a 12–18% drop in food prices
Challenges:
Exchange rate volatility: 62 rate changes in Q1, ranging from ₦1,477.72 to ₦1,569.53 per USD
Suspension of Financial Customs Service Operation (4% FOB)
14% reciprocal tariff by the US on Nigerian exports
Adeniyi warned that exchange rate instability disrupts cost predictability and trade planning. “We must continue adjusting our systems and procedures to withstand these shocks,” he added.
Looking Forward:
Adeniyi reaffirmed the NCS’s commitment to modernization and efficiency. “Our strategic priorities align with the vision of becoming a fully modernized customs administration that facilitates legitimate trade while securing our borders and optimizing revenue,” he concluded.
