The Nigerian Customs Service (NCS), on Wednesday, reported a significant surge in revenue generation for the first quarter of 2024, saying it has generated a total of N1.34 trillion between January and March.

It said that the records marked an impressive 122.35% increase in revenue collection compared to the same period in 2023.

The Comptroller-General of Customs (CGC), Adewale Adeniyi, disclosed this in Abuja, at the press briefing on the 2024 first-quarter revenue report, reiterating its commitment to publishing the TRS report to foster transparency and address the current challenges hindering trade facilitation.

He noted that between January and March, about 22 suspects were detained, assuring that appropriate legal measures would be taken by the Nigeria Customs Service Act 2023.

Adeniyi highlighted the key figures from the first quarter, demonstrating the NCS’s remarkable performance in revenue collection.

He said: “In the first quarter of 2024, the NCS demonstrated remarkable performance in revenue collection. Total revenue collected during this period amounted to NGN 1,347,675,608,972.75. The collection for the first quarter represents a substantial increase of 122.35% compared to the same period last year, where NGN 606,119,935,146.67. Month-by-month analysis further illustrates the Service’s impressive growth trajectory.

“In January 2024, revenue collection surged by 95.60%, reaching NGN 390,824,148,326.55 from NGN 199,809,974,327.52 recorded in January 2023. This upward trend continued in February 2024, with a staggering 138.68% growth, elevating revenue collection to NGN 450,209,267,557.15 from NGN 188,625,011,386.87 in February 2023. By March 2024, the revenue collected by NCS revenue grew by 132.76% from NGN 217,669,949,432.28 to NGN 506,642,193,019.05.

“When compared to the Federal government’s annual revenue target of NGN 5.07 trillion for the NCS to collect in 2024, the target translates to a monthly revenue target of NGN 423 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 NGN 78,675,608,972.75 over the set quarterly target of NGN 1.269 trillion.

“In the first quarter of 2024, the NCS recorded a total of 572 seizures, encompassing various items valued at NGN 10,593,099,654.50 in Duty Paid Value (DPV). Notably, January saw 111 seizures amounting to NGN 842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totalling NGN 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.”

He noted that the NCS processed a total of 311,492 Single Goods Declarations (SGDs) for imports, reflecting the volume of import transactions handled, adding that the figure indicates a decrease compared to the total volume of 327,491 processed in 2023 and 403,233 SGDs in 2022.

He added, “A total of 10,786 SGDs were processed in 2024 compared to 9,752 transactions in 2023, representing a 10.60% growth in export activities. Notably, a significant portion of this growth occurred in January, with 4,067 transactions processed in 2024 compared to 3,352 SGDs in 2023, marking a 29.69% increase. The Service is particularly interested in the growth of the non-oil export sector, aligning with the priorities of the President Bola Ahmed Tinubu led administration and the initiatives pursued by NCS in recent times.

“A myriad of deliberate factors have contributed to the successes around NCS key performance indicators. It is important to acknowledge the dedication and efforts of the officers and men of NCS who have worked tirelessly and around the clock to ensure consistent and upward momentum.”

The NCS attributes its success to the dedication and efforts of its officers and men, as well as the support from stakeholders in both the private and public sectors. The implementation of initiatives such as the E-auction has also contributed to revenue growth, generating a total of N1.6 billion in February and March.

He highlighted the ongoing support of the government, particularly in approving initiatives aimed at fulfilling the mandate of the NCS initiatives, which include granting of a 90- day window to owners of uncustomed vehicles, facilitating the payment of appropriate duties on previously imported vehicles into the country.

He called on Nigerians to avail themselves of the opportunity to regularize their papers, as failure to do so will result in applicable penalties.

Speaking on the government’s decision to reopen the Northern Borders with the Niger Republic that holds significant importance, he said, “The action is expected to boost trading activities in those areas. With potential smugglers now reconsidering the legitimacy of trading through approved routes, this decision stands as a pivotal move.

“NCS is unequivocally committed to supporting the actualization of the 8- point agenda of the President Tinubu-led administration. This commitment is demonstrated through both direct and indirect contributions to key areas such as economic growth, improved security, upholding the rule of law, and fighting corruption. Noteworthy achievements include strengthening economic growth through optimal revenue collection to support government allocations to vital sectors, alongside the implementation of efficient trade facilitation measures.

“Our relentless enforcement efforts, particularly in intercepting prohibited items, are important in enhancing security. Moreover, we are steadfastly integrating technology across our operations to ensure transparency and accountability, addressing critical aspects of the 8-point agenda.”

He said that in line with its commitment, the NCS continues to prioritize food security by distributing food items to vulnerable members of society in various parts of the country, and assures the public that transparency and accountability will remain paramount under his leadership as the Comptroller-General.