Customs Revenue Rose by 29.96% to N1.75trn in Q1 2025 —Adeniyi Says

BY BONNY AMADI WITH AGENCY REPORTS

Nigerian revenue in the first quarter of 2025 from the customs service recorded an upsurge by 30 per cent, a development that has given an indication of probable over 100 per cent revenue growth for the year by the service.

Remarkably, the Nigeria Customs Service (NCS) says it collected N1.75 trillion as revenue in the first quarter (Q1) of 2025.

Adewale Adeniyi, comptroller-general (CG) of customs, speaking during a press briefing in Abuja said the amount surpassed the service’s Q1 benchmark of N1.65 trillion by 106.47 percent.

He added that the figure also represents a 29.96 percent increase compared to the N1.35 trillion generated in the same period of 2024.

“I am proud to announce that we have exceeded this year’s target by N106.5 billion, achieving 106.47 percent of our quarterly projection,” the CG said.”

This outstanding performance represents a substantial 29.96 per cent increase compared to the same period in 2024, where we collected N1.35 trillion.

“Our month-by-month analysis reveals even more encouraging details of this growth trajectory.

“January’s collection of N647. 88 billion not only surpassed its monthly target of N548.33 billion by 18.12 per cent, but also showed a remarkable 65.77 per cent year-on-year growth.

“February’s N540.11 billion exceeded its target by 1.3 per cent while achieving 19.97 percent growth over 2024 figures.”

Adeniyi said revenue collection in March continued on an upward trajectory, reaching N563.52 billion — 2.7 percent above the monthly target and 11.22 percent higher than the figure recorded in March 2024.

298 SEIZURES’

The CG said the service recorded 298 seizures in Q1 with a total duty paid value (DPV) of N7.7 billion, a 78.41 percent increase compared to N4.32 billion recorded in Q4 2024.

The NCS boss, however, said the DPV dropped by 19.70 percent in Q1 2025 compared to the N9.59 billion recorded during the corresponding period in 2024.

Adeniyi attributed the decline to better compliance levels, driven by sustained stake- holders’ engagement and the deterrent impact of the service’s enforcement measures.

“Rice remained the most prevalent seized commodity, with 159 cases involving 135,474 bags valued at N939.31 million,” he said.