Finance Minister Highlights Nigeria Customs Service's Role in Achieving ₦48 Trillion 2025 Budget
The Nigeria Customs Service (NCS) has been recognized for its significant role in bolstering Nigeria's economic recovery, as the Federal Government sets an ambitious ₦48 trillion expenditure target for 2025.
During the 61st quarterly board meeting of the NCS on December 18 at the Customs House in Abuja, Finance Minister Mr. Olawale Edun emphasized the agency's importance. This meeting followed President Bola Ahmed Tinubu's presentation of the 2025 budget to the National Assembly, titled "A Budget of Restoration."
The budget anticipates ₦35 trillion in revenue, with the NCS expected to play a pivotal role. Mr. Edun noted that the NCS had already surpassed its 2024 revenue target, collecting over ₦5.07 trillion by November 12, 2024. This achievement is projected to exceed the target by 10%, reflecting the agency's enhanced stakeholder collaboration and modernization efforts.
To fund the remaining ₦13 trillion of the 2025 budget, the government plans to secure concessionary loans, grants, and development support.
The board also reviewed the NCS's 2024 achievements, approving the recruitment of 3,927 officers and granting special promotions to top-performing personnel to address workforce gaps and enhance trade facilitation.
Mr. Edun commended the NCS's efforts in combating smuggling and promoting trade, which are crucial for economic growth and job creation. He urged Customs officers to remain committed to national goals, emphasizing the agency's role in poverty reduction and economic development.
The NCS's success in exceeding its revenue target underscores its critical role in Nigeria's economic framework, particularly in light of the substantial 2025 budget aimed at national restoration.
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