By George Mgbeleke <\/p>\n
The Nigerian Customs Service ( NCS ) on Monday announced that its revenue target for 2026 fiscal year is N11.074trillion which almost doubled N6.584trillion targeted in 2025 and exceeded with N674billion by generating N7.277trillion .<\/p>\n
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. <\/p>\n
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 Committee .<\/p>\n
The Comptroller – General at the committee session in the Senate, said out of the projected N11.074trillion in 2026,, N4.43trillion has been realised as at 31st of May .<\/p>\n
Expenditure proposal of Customs in 2026 according to him, is N1.235trillion out of which N421billion is earmarked for personnel cost , N307billion for overhead cost and N565billion for capital expenditure. <\/p>\n
On budget performance for 2025 , the Customs boss told the Committee that while N6.584trillion was targeted as revenue , N7. 277trillion was generated , showing excess of N674billion about 10.24% positive variance .<\/p>\n
He however said that Customs would have generated more in 2025 but some policies of government like CNG \/ Electric Vehicles Tarrif, the yet to be implemented Green Tax etc
\naffected its operations. <\/p>\n
” 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 N11.074trillion or even surpassed it “, he said. <\/p>\n
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 .<\/p>\n
” 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 .<\/p>\n
” Please work harder in 2026 to actualize your budget dreams and projections”, he said .<\/p>\n
He thereafter put to voice votes among members of the committee , the 2026 budget proposal of Customs as presented by its CG and got approval of all the members in attendance.<\/p>\n","protected":false},"excerpt":{"rendered":"
By George Mgbeleke The Nigerian Customs Service ( NCS ) on Monday announced that its revenue target for 2026 fiscal year is N11.074trillion which almost doubled N6.584trillion targeted in 2025 and exceeded with N674billion by generating N7.277trillion . This is as the Senate and the House of Representatives Committees on Customs, commended President Bola Ahmed […]<\/p>\n","protected":false},"author":2,"featured_media":8992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-15299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy"],"_links":{"self":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/15299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/comments?post=15299"}],"version-history":[{"count":1,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/15299\/revisions"}],"predecessor-version":[{"id":15300,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/15299\/revisions\/15300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media\/8992"}],"wp:attachment":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media?parent=15299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/categories?post=15299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/tags?post=15299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}