Economy Reports

Customs Revenue Hits ₦3.68 Trillion in Q1, Exceeds Target by ₦390 Billion

The Nigeria Customs Service (NCS) generated ₦3.68 trillion in the first quarter of 2025, surpassing its revenue target by ₦390 billion and achieving 56 percent of its full-year projection.

The Presidency said the performance reflects ongoing reforms in automation, enforcement, and compliance rather than one-off windfalls.

It added that the outcome demonstrates the impact of digitisation of customs processes and stricter monitoring of import and export activities.

According to official data, the revenue mobilisation forms part of the ₦20.59 trillion generated from non-oil sources between January and August 2025.

Non-oil collections accounted for 75 percent of government revenues in the period, marking a fundamental shift away from reliance on oil.

The Presidency noted that customs efficiency has contributed to record disbursements under the Federation Account Allocation Committee.

In July, allocations to states and local governments crossed ₦2 trillion for the first time in Nigeria’s fiscal history.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, said the results show that fiscal reforms are broadening Nigeria’s revenue base.

He explained that improved compliance and digital filings remain central to the gains, while inflation and exchange rate revaluation played supporting roles.

Onanuga added that the priority is to channel the fiscal gains into infrastructure, health, education, and job creation.

He emphasised that oil is no longer the dominant driver of government revenue with customs and other non-oil channels now powering fiscal stability.

The Presidency said the government remains on track to meet and possibly exceed its full-year non-oil revenue targets with final validated figures expected to be published by the Budget Office at year-end.