The Nigeria Customs Service (NCS) collected about ₦4.03 trillion in the first half of 2026, leaving it with a steep climb to meet its ₦11.07 trillion revenue target for the year. The Comptroller-General of Customs, Adewale Adeniyi, disclosed this on Tuesday while delivering a lecture titled “Why Customs Matters: Revenue, Security and Nationhood in a Borderless World” at the University of Ibadan’s third Distinguished Personality Lecture, organised by the TETFUND Centre of Excellence in Security Management.
Adeniyi said the service would pursue its revenue target through improved compliance, data-driven operations and trade facilitation rather than harassment at the ports, warning that revenue gains achieved by stifling trade would be a “false victory”. He said Customs revenue rose from about ₦3.2 trillion in 2023 to ₦6.105 trillion in 2024 and ₦7.28 trillion in 2025, exceeding the ₦6.58 trillion target for last year.
According to him, revenue grew by about 19 per cent in 2025 despite a relatively stable exchange rate, while companies enrolled in the Authorised Economic Operator programme increased their revenue contributions by approximately 30 per cent. Adeniyi acknowledged that exchange-rate adjustments had contributed to revenue growth because import duties are assessed in naira.
However, he stressed that currency movements alone could not explain the gains. He attributed the improved performance to better customs valuation, stronger risk management, digital platforms, tighter enforcement and reduced revenue leakages. The Customs chief also noted that tensions in the Middle East had slowed cargo movements, adding to the challenges facing the service as it works towards its ambitious 2026 target.