Market News

Nigeria Customs revenue increases by over 122%, rakes in N1.35 trn in Q1 2024 - BUSINESSDAY

APRIL 03, 2024

The Nigeria Customs Service (NCS) has announced an increase in its revenue, generating N1.347 trillion in the first quarter of 2024.

This indicates a 122.35 percent increase compared to the N606.1 billion recorded within the same period in 2023.

Bashir Adeniyi, Comptroller General of the NCS, disclosed this while briefing to newsmen on Wednesday in Abuja. While noting the increase in revenue, he explained that in January alone the revenue surged by 95.6% compared to January 2023.

He attributed the revenue performance to the introduction of reforms such as the e-auction which yielded a total of N1.6 billion for the period of February and March 2024.

The Comptroller General also informed that the Service made a total of 572 seizures amounting to N10. 593 billion.

He, however, regretted that the fluctuations in the exchange rate, and non-compliance to regulations were among the challenges that significantly affected the activities of the service.


This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics