The Nigeria Customs Service (NCS), says it has generated and remitted N1.34 trillion into the Federation account in the first quarter of the year, 2024.

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It also announced the seizure of 572 goods with a Duty Paid Value (DPV) of N10.59 billion during the same period.

The Comptroller General of Customs (CGC), Adewale Adeniyi made the announcement on Wednesday in Abuja during a press briefing.

According to the CGC, the total revenue collected during this period which amounted to N1,347,675,608,972.75 represented a substantial increase of 122.35%, when compared to the same period last year.

He said the month-by-month analysis further illustrated the Service’s impressive growth trajectory.

The Customs boss said in January 2024, the revenue collection surged by 95.60%, reaching N390,824,148,326.55 from N199,809,974,327.52 recorded in January 2023.

“This upward trend continued in February 2024, with a staggering 138.68% growth, elevating revenue collection to N450,209,267,557.15 from N188,625,011,386.87 in February 2023. By March 2024, the revenue collected by NCS grew by 132.76% from N217,669,949,432.28 to N506,642,193,019.05.

“When compared to the Federal government’s annual revenue target of N5.07 trillion for the NCS to collect in 2024, the target translates to a monthly revenue target of N423 billion. We are pleased to report an average monthly revenue growth of 6.2% over the set monthly target and a cumulative revenue collection of 18.6%, equivalent to N78,675,608,972.75 over the set quarterly target of N 1.269 trillion.”

He added that in the first quarter of 2024, the NCS recorded a total of 572 seizures, encompassing various items valued at N10,593,099,654.50 in Duty Paid Value (DPV).

“Notably, January saw 111 seizures amounting to N 842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totaling N 3,704,703,350.34. Rice constituted 39% of the seizures, followed by petroleum products at 26%, with motor vehicles and textiles accounting for 9% and 6% of the seizures, respectively. During this period, the NCS detained 22 suspects, and appropriate legal measures will be taken in accordance with the Nigeria Customs Service Act 2023.”

Speaking on trade facilitation, Adeniyi said that
trade facilitation remained a central focus of the NCS operations.

He said that despite inherent challenges, “we have diligently worked towards streamlining processes, minimizing bottlenecks, and optimizing efficiency across our ports to ensure seamless trade transactions.”