Business
NASS jerks up customs 2025 revenue target from N6.5trn to N12trn
The National Assembly Joint Committee on Finance has jerked up the revenue projection of the Nigeria Customs Service (NCS) from N6.5 trillion to N12 trillion for 2025.
Sani Musa, chairman of the Senate committee on finance, and James Faleke, his house of representatives counterpart, raised the revenue target on Tuesday during the budget defence by Adewale Adeniyi, Comptroller General (CG) of NCS, for the 2025 fiscal year.
In his presentation, Adeniyi said having generated N6.1 trillion in 2024, the service will comfortably generate N6.5 trillion in 2025.
READ ALSO: Customs surpassed 2024 target, made N6.1tr – Comptroller-General
But the committee, in their separate remarks, told the customs CG that the 2025 projected revenue should be far above N6.5 trillion.
“N10 trillion should be the minimum revenue generation target for customs in 2025 which was however increased to N12 trillion based on suggestions made to that effect by some other members of the committee,” Musa said.
“Based on the aggregate of opinions expressed by members of this committee, the comptroller general of customs should aim at generating N12 trillion revenue for Nigeria in 2025 which almost doubles the N6.5 trillion proposed by customs itself.”
By Babajide Okeowo
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
