The Nigeria Customs Service (NCS) says it generated ₦1.75 trillion in revenue during the first quarter of 2025, surpassing its quarterly target by over ₦106 billion.
Comptroller-General of Customs, Bashir Adeniyi, confirmed the service achieved 106.47 percent of its Q1 target, which is part of a ₦6.58 trillion annual projection. The performance represents a 29.96 percent increase compared to the ₦1.35 trillion collected in the same period last year.
Monthly figures showed consistent growth, with January alone bringing in ₦647.88 billion—an 18 percent increase above its monthly target and a 65.77 percent jump year-on-year. February’s collection stood at ₦540.11 billion, exceeding its target by 1.3 percent, while March yielded ₦563.52 billion, also above target by 2.7 percent.
Adeniyi attributed the strong performance to ongoing reforms under President Bola Tinubu and the supervision of the Minister of Finance, Mr. Wale Edun. He said the results show clear progress in plugging revenue leakages and facilitating compliant trade. He added that the service will sustain its momentum through rigorous enforcement and improved partnerships.
On international trade concerns, Adeniyi highlighted uncertainty surrounding a 14 percent reciprocal tariff imposed on Nigerian exports by the United States. He warned that the development could affect the country’s export performance and said stakeholders would meet this week to deliberate on a coordinated diplomatic and policy response.
The Customs boss also noted persistent challenges during the quarter, particularly around exchange rate volatility. The service recorded 62 rate changes between January and March, ranging from ₦1,477.72 to ₦1,569.53 to the dollar. He said this unpredictability impacted trade patterns and customs valuation, although the situation had slightly improved compared to the previous quarter.
Meanwhile, the service recorded 298 seizures valued at ₦7.7 billion in Q1. This represents a 78.41 percent increase from the fourth quarter of 2024. However, it marks a 19.7 percent drop compared to the ₦9.59 billion seizures recorded in Q1 last year. Adeniyi said the decline was due to improved compliance driven by ongoing stakeholder engagement and tougher enforcement.
Among the seized goods, rice remained the most common, with 135,474 bags confiscated across 159 cases, valued at ₦939.3 million. The service also intercepted petroleum products, narcotics worth over ₦730 million, and high-value wildlife products valued at ₦5.65 million, along with textile fabrics, retreaded tyres, and pharmaceuticals.
Adeniyi also disclosed that food import duty exemptions played a role in recent reductions in food prices. In Q1, maize imports worth ₦45.3 billion, rice valued at ₦751.6 million, and sorghum worth ₦2.3 billion were granted waivers. Combined with earlier exemptions on rice and wheat from 2024, the policies have contributed to a 12 to 18 percent drop in food prices this year.
He said the NCS will continue to prioritise modernisation in 2025, with a focus on expanding its B’Odogwu platform, enhancing risk management systems, and deploying emerging technologies to boost operational efficiency.
Adeniyi stressed that transparency remains a core part of the agency’s strategy, noting that every revenue figure reflects the dedication of officers working to protect Nigeria’s borders, stop illegal trade, and secure government revenue. While celebrating the gains, he acknowledged ongoing threats, particularly from sophisticated smuggling networks, and said Customs is adapting through intelligence-driven operations and strategic enforcement.
He also cited challenges from the recently suspended Financial Customs Service Operation, also known as the four percent FOB, which required temporary adjustments from both the service and its stakeholders.
