NCS records N1.35tn revenue in three months

The Nigeria Customs Service (NCS), yesterday, said in the first quarter of 2024, it demonstrated remarkable performance in revenue collection, collecting a total revenue of N1,347,675,608,972.75. Comptroller General of NCS, Adewale Adeniyi, disclosed this during the first quarter performance briefing by the service in Abuja. The collection for the first quarter, the NCS boss stated, represented a substantial increase of 122.35 per cent, compared to the same period last year, which was N606,119,935,146.67. He said month-by-month analysis illustrated the service’s impressive growth trajectory, stating, “In January 2024, revenue collection surged by 95.60 per cent, reaching N390,824,148,326.55 from N199,809,974,327.52 recorded in January 2023.” Adeniyi explained that the upward trend continued in February 2024, with a staggering 138.68 per cent growth, elevating revenue collection to N450,209,267,557.15 from N188,625,011,386.87 in February 2023. He said, “By March 2024, the revenue collected by NCS revenue grew by 132.76 per cent 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 per cent over the set monthly target and a cumulative revenue collection of 18.6 per cent, equivalent to N78,675,608,972.75 over the set quarterly target of N1.269 trillion.”