Federal Government Commends Customs Service For Generating ₦5 Trillion In 2024.
The Federal Government has lauded the Nigeria Customs Service (NCS) for its remarkable performance in generating approximately ₦5 trillion in revenue by September 2024.
Speaking at the 61st meeting of the NCS Board in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, described the achievement as a significant milestone in Nigeria’s fiscal recovery. He highlighted that this success bolsters the government’s ability to fund critical social and infrastructural programmes.
Mr Edun attributed the revenue feat to President Bola Ahmed Tinubu’s economic reforms, which have been instrumental in steering the nation towards stability and sustainable growth. He emphasised that the NCS is a key player in the administration’s fiscal consolidation strategy, designed to balance revenues and expenditures to support macroeconomic stability.
“The NCS has demonstrated exemplary performance, and its role in supporting the government’s economic goals cannot be overstated. This achievement underscores the impact of well-implemented reforms and fiscal discipline,” he stated.
To further enhance the service’s efficiency, Mr Edun announced the approval of 3,927 new personnel for the 2024/2025 recruitment cycle. This move, based on a comprehensive needs assessment, aims to address staffing gaps and ensure the NCS continues to deliver optimal results.
The government’s ₦48 trillion “budget of restoration” for 2025 projects ₦35 trillion in revenues, with the remaining funds to be sourced through concessionary loans, international grants, and domestic borrowing. The budget prioritises security, job creation, and poverty reduction as central pillars for economic revival.
The Minister praised Comptroller General Bashir Adewale Adeniyi and the entire NCS team for their dedication and effectiveness. He encouraged them to maintain their commitment to fostering economic growth and achieving the administration’s goals.
“This milestone is a testament to the government’s resolve to revitalise the economy and build a prosperous future for all Nigerians. We look forward to even greater achievements in the years to come,” Mr Edun concluded.
The NCS’s outstanding performance reflects Nigeria’s potential for growth and the collective effort of all stakeholders in driving economic excellence.
