Customs surpass revenue N5.07trn target, as Tinubu showers praises on agency
…Nigeria’s Foreign Direct Investments exceed $30bn — Tinubu
By Seun Ibiyemi
President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to supporting the Nigeria Customs Service (NCS) in its ongoing modernisation and reform efforts to enhance the nation’s economic growth.
The President made this declaration on Wednesday while officially opening the 2024 Comptroller-General of Customs (CGC) Conference in Abuja. The theme of the conference is “Engaging Traditional and New Partners With Purpose.”
In his remarks, delivered by the National Security Adviser, Mallam Nuhu Ribadu, President Tinubu lauded the efforts of Comptroller-General Bashir Adewale Adeniyi for repositioning the Nigeria Customs Service towards greater productivity and increased revenue generation.
He praised Adeniyi’s leadership in driving significant reforms that align with the administration’s broader economic objectives, assuring the gathering of the Federal Government’s continued support for the Customs Service, particularly in areas such as technological advancement, infrastructure development, and capacity building, which are crucial for achieving global best practices.
These initiatives, he said, are essential for strengthening the Service’s ability to fulfil its mandates effectively.
“The Nigeria Customs Service plays a crucial role as a facilitator of international trade and protector of our borders,” Tinubu noted. “Its success in balancing trade facilitation with regulatory compliance is vital for advancing our national economic goals. Our administration is committed to providing the necessary policy support to bolster its capabilities.”
Reflecting on the administration’s economic vision since taking office, President Tinubu highlighted a consistent focus on strengthening Nigeria’s economic foundations.
He outlined key reforms, including the removal of fuel subsidies and the unification of the exchange rate, which he described as critical steps toward creating a more transparent and sustainable economic framework.
“Sixteen months ago, we embarked on a journey to reinforce Nigeria’s economic stability and growth,” he said.
“Our focus has been on enhancing what works, refining areas needing improvement, and introducing new policies where gaps exist. These reforms are already showing positive outcomes, laying the groundwork for sustainable growth and prosperity.”
Tinubu emphasised the administration’s commitment to expanding Nigeria’s role in global trade and investment by modernising port infrastructure and streamlining business processes.
He pointed out that these efforts have led to a surge in foreign direct investments, exceeding $30 billion in the past year, underscoring the increasing confidence in Nigeria’s economic policies.
The President commended the Customs Service for its proactive approach in aligning with the government’s economic transformation agenda.
He highlighted the Service’s adoption of innovative reforms such as the Advanced Ruling system and the Authorised Economic Operator Program, which enhance trade facilitation and regulatory compliance while adhering to international standards.
“The Nigeria Customs Service has demonstrated how the government demonstrated how government institutions can effectively contribute to our economic transformation agenda,” Tinubu stated. “Their modernisation agenda, particularly in enhancing revenue generation and promoting trade facilitation, has been instrumental in improving our global ease of doing business ranking.”
He further acknowledged the Customs Service’s efforts in improving border security and anti-smuggling operations, which have strengthened Nigeria’s position as a trade-friendly nation.
According to Tinubu, these accomplishments affirm his administration’s belief that well-aligned public institutions can drive transformative change.
Addressing the theme of the conference, “NCS Engaging Traditional and New Partners with Purpose,” Tinubu urged participants to focus on fostering strategic partnerships.
He equally emphasised the importance of Nigeria’s role in the African Continental Free Trade Area (AfCFTA) and its position as West Africa’s largest economy.
“Your deliberations should be timely and strategic, considering our regional and continental obligations,” Tinubu advised. “Focus on innovative approaches to strengthen existing partnerships and forge new ones, particularly within the expanding trade landscape of AfCFTA.”
“Your discussions should pave the way for enhancing trade processes and compliance frameworks that will maximise the opportunities presented by regional integration.”
He called on the Customs Service to build on its progress, with a clear understanding of Nigeria’s economic aspirations and regional commitments.
The President also encouraged conference participants to bring their expertise to bear in discussions that would address current challenges and anticipate future developments in global trade.
“As i declare this conference open, | urge all participants to contribute innovative ideas that will shape Nigeria’s trade policies and strengthen our position in the international trading system,” Tinubu concluded.
“The recommendations from this conference will be crucial in advancing our trade facilitation initiatives and ensuring effective border administration.”
The President’s address set the tone for the conference, which aims to engage stakeholders in discussions that will chart the future course for the Nigeria Customs Service in its mission to support national economic development.
Meanwhile, the Comptroller-General Of Customs, Bashir Adewale Adeniyi disclosed that the NCS servenue has hit N5.07 trillion as at yesterday (12 November 2024).
He said, “I am pleased to announce that yesterday 12 November 2024, at exactly 13:10 Hrs, the Nigeria Customs Service hit its 2024 revenue target of NGN 5.07 trillion, collecting NGN 5,079,455,088,194.38 with more than a month remaining in the fiscal year. This exceptional performance – projected to exceed our target by 10 percent – validates our partnership-driven approach to revenue collection and trade facilitation.
“The achievement is not merely about numbers; it demonstrates how enhanced stakeholder collaboration, improved processes, and modernised systems can deliver tangible results for our nation’s economy,” he said.
According to Adeniyi, the scale of Customs intervention is reflected in seizures valued at N28.1 billion and counting in 2024 alone.
These seizures, he said, span critical areas of national concern – from wildlife items and arms and ammunition to narcotics and pharmaceutical products.
Among his numerous achievements, he said the Service’s leap of 33 places upward in the Presidential Enabling Business Environment Council (PEBEC) rankings, placing NCS among the top five agencies in trade facilitation, reflects the impact of our reform initiatives.
Adeniyi said his administration has deliberately repositioned the Nigeria Customs Service brand, emphasising its commitment to trade facilitation and demonstrating a more nuanced application of its authority in executing its statutory responsibilities.
He said, “Our pledge was comprehensive and ambitious: modernising our processes through a one-stop solution for cargo alerts, revolutionising our ICT infrastructure, streamlining examination procedures, and embracing automation for enhanced efficiency.
“We committed to reimagining our free trade zone operations, elevating cargo integrity standards, and expanding our scanning capabilities. Above all, we promised to usher in a new era of customs operation- one built on transparency, efficiency, and genuine collaboration with our partners.”
