Senate Approves ₦11trn Revenue Target For Customs

 

The Senate has approved a ₦11 trillion revenue target for the Nigeria Customs Service for the 2026 fiscal year, following the agency’s budget defence session before the relevant committee.

Chairman of the Senate committee on Customs, Senator Isah Jibril, made the declaration during a budget defence session with officials of the Nigeria Customs Service led by the Comptroller-General, Adewale Adeniyi, on Monday.

Speaking during the session, Adeniyi expressed optimism that the agency would meet the ambitious target despite prevailing global economic challenges.

 

 

He disclosed that the NCS had so far generated ₦4.43 trillion in revenue, noting that the figure reflected a shortfall when compared to projected expectations for the period.

READ ALSO: Customs 2025 Revenue Hits ₦7.28trn, Exceeds Projection

According to the Comptroller-General, the ongoing crisis in the Middle East remains the major elephant in the room, as it has disrupted cargo movements and affected import volumes through Nigerian ports.

‘The Middle East crisis has affected cargo coming into our ports. We are hopeful that the delicate situation involving the United States and Iran will improve, but for now, we have to contend with these external factors,” he said.

Reviewing the Service’s 2025 budget performance, the CG stated that the NCS achieved its approved revenue target of ₦ 6.584 trillion.

However, he noted that global developments, including the Russia-Ukraine war, also had a significant impact on the Service’s revenue performance by disrupting international trade and supply chains.

Despite the external challenges, the Senate expressed confidence in Customs capacity to deliver on its 2026 revenue projection after considering its budget performance and operational outlook.

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