The Nigeria Customs Service (NCS) has reported impressive achievements for the year 2024, showcasing a remarkable surge in trade processing, significant revenue generation, and efforts to curb smuggling activities. The NCS handled a total trade value of N196.94 trillion, marking an extraordinary 179.3% increase from N70.50 trillion in 2023. This growth reflects the ongoing transformation of Nigeria’s international trade landscape, facilitated by robust trade and modernization efforts.
Revenue Growth and Seizures
The NCS generated a total of N6.106 trillion in revenue, including N3.675 trillion from Federation Account Collections, N816.902 billion from non-Federation Account levies, and N1.631 trillion from Value Added Tax (VAT). In addition, the Customs Service recorded a total of N35.2 billion in seizures, underlining its commitment to preventing economic sabotage through enforcement of anti-smuggling measures.
A significant aspect of the NCS’s performance was achieved despite substantial concessions granted to support various sectors of the economy, totaling N1.682 trillion. These accomplishments were made possible by the alignment with President Bola Tinubu’s policy objectives, under the leadership of Minister of Finance, Olawale Edun, and the dedication of the Customs management and staff.
Trade Facilitation and Growth in Exports
The Customs Service also excelled in trade facilitation, processing imports valued at N60.29 trillion in 2024, a 117.4% increase from the previous year’s N27.74 trillion. This growth was achieved through 1,262,988 import transactions, with a total mass of 15.35 billion kilograms. In terms of exports, the NCS saw a remarkable 219.5% increase in the CIF value, reaching N136.65 trillion, up from N42.77 trillion in 2023. The volume of export mass surged by 234%, rising from 3.70 billion kilograms to 12.35 billion kilograms, a sign of Nigeria’s improving competitiveness in the global market.
The total trade value handled by the NCS in 2024 amounted to N196.94 trillion, compared to N70.50 trillion in 2023, highlighting the increasing sophistication of Nigeria’s international trade and the effectiveness of the Service’s facilitation measures.
Technological Advancements in Customs Operations
Looking forward, NCS is focusing on the development and deployment of technological infrastructure to further enhance operational efficiency. One significant initiative is the pilot testing of a home-grown customs clearance platform called ‘B’Odogwu’, launched in the fourth quarter of 2024 under the Trade Modernisation Project. This platform, supported by the Service’s concessionaires, is expected to streamline operations and improve trade facilitation.
Anti-Smuggling and Enforcement Efforts
In its ongoing fight against smuggling, the NCS made 3,555 seizures in 2024, including 900 arms and 113,472 rounds of ammunition, with a Duty Paid Value (DPV) of N35.29 billion. The CIF value of these seizures was put at N28.46 billion, with total duty assessed at N6.83 billion. These efforts are crucial in protecting the economy from illegal activities that could undermine national security and revenue generation.
Conclusion
The Nigeria Customs Service’s exceptional performance in 2024 is a testament to the success of its modernization efforts, increased trade facilitation, and effective enforcement measures. With continued focus on technological advancements and strategic alignment with government policies, the NCS is set to further strengthen Nigeria’s position in international trade while curbing illegal activities. The results achieved in 2024 mark a pivotal moment for the Customs Service, as it continues to support the nation’s economic growth and security.
