Customs sets N11.07 trillion revenue target for 2026

The Nigeria Customs Service (NCS) has set a revenue target of N11.074 trillion for 2026, almost double its 2025 target of N6.584 trillion.

The Comptroller-General of Customs, Bashir Adewale Adeniyi, announced this during the agency’s budget defence before the National Assembly Committees on Customs.

According to Adeniyi, Customs generated N7.277 trillion in 2025, exceeding its target by N674 billion, which represents a 10.24 percent increase above expectations. The figure also showed a 19 percent increase from the N6.1 trillion collected in 2024.

He said that by May 31, 2026, the Service had already generated N4.43 trillion, representing about 40 percent of its annual target.

For 2026, Customs proposed a budget of N1.235 trillion, which includes:

N421 billion for personnel costs

N307 billion for overhead expenses

N565 billion for capital projects

Adeniyi attributed the strong revenue performance to reforms in revenue collection, improved anti-smuggling operations, and measures aimed at making trade easier. However, he noted that some government policies, including tariffs on compressed natural gas (CNG) and electric vehicles, affected revenue generation.

The Service also recorded strong results in 2025. In the first quarter, it generated N1.75 trillion, exceeding its quarterly target of N1.645 trillion by N106 billion. This was nearly 30 percent higher than the amount collected during the same period in 2024.

Between January and June 2025, Customs collected about N3.6 trillion, surpassing its six-month target by N390 billion. Another official record put first-half revenue at N3.7 trillion, which was 12.5 percent above budget projections.

Despite concerns about global economic challenges, including tensions in the Middle East, Adeniyi expressed confidence that Customs would meet or even exceed its 2026 revenue target.

The National Assembly Committees on Customs also praised President Bola Ahmed Tinubu for extending Adeniyi’s tenure by six months. Lawmakers commended the Customs boss for reforms that have improved revenue generation, anti-smuggling efforts, trade facilitation, and infrastructure.

The Chairman of the Senate Committee on Customs, Jibrin Isah, described the Customs Service as transformed under Adeniyi’s leadership and urged him to work harder toward achieving the 2026 target.

The committees later approved the Customs Service’s 2026 budget proposal through a voice vote.

The approval comes after lawmakers previously proposed increasing the agency’s 2025 revenue target from N6.584 trillion to as much as N10 trillion, reflecting confidence in Customs’ ability to boost Nigeria’s non-oil revenue.