The Senate on Wednesday approved the 2026 budget of the Nigerian Customs Service, endorsing a revenue target of ₦11.074tn and an expenditure plan of ₦1.295tn, following the agency’s record revenue performance in 2025. The approval came after lawmakers adopted the report of the Senate Committee on Customs, Excise and Tariffs during plenary.
Presenting the report, the committee chairman, Senator Isah Jibrin, said the panel scrutinised the agency’s 2025 budget implementation before considering its estimates for 2026. He said the Customs Service exceeded its 2025 revenue target of ₦6.5tn, generating about ₦7.2tn, equivalent to 110.53 per cent of its projection.
According to Jibrin, revenue would have been higher but for the suspension of excise duty on telecommunications services, fiscal policies promoting local production of healthcare products and disruptions to global trade caused by the Russia–Ukraine war, which affected imports, particularly wheat.
The committee also disclosed that although the service had an approved 2025 budget of about ₦1.132tn, actual expenditure stood at ₦591bn. Jibrin attributed the low capital utilisation to delays in project approvals by the Bureau of Public Procurement and the Federal Executive Council, which forced several projects to be rolled over to the 2026 fiscal year.
He said the service plans to achieve its ₦11.074tn revenue target through wider deployment of technology, strengthened revenue recovery mechanisms, real-time audit systems, improved trade facilitation and intensified anti-smuggling operations. According to the committee, the proposed ₦1.295tn expenditure comprises ₦421bn for personnel costs, ₦307bn for overheads and ₦565bn for capital projects.
It added that the budget would be financed mainly through the statutory four per cent Free on Board levy provided under the Nigerian Customs Service Act, 2023. The committee subsequently recommended approval of both the revenue target and expenditure estimates.
Contributing to the debate, Deputy Senate President Barau Jibrin praised the committee for its comprehensive report and commended the Comptroller-General of Customs and the agency’s personnel for surpassing their revenue target. He said the performance vindicated President Bola Tinubu’s decision to extend the tenure of the Comptroller-General.