The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the Nigeria Customs Service (NCS) generated approximately N15 trillion in revenue by September 2024.
In a statement posted today on the ministry’s X page, Edun made this disclosure while presiding over the 61st meeting of the NCS Board.
He commended the agency for its outstanding performance, highlighting how this milestone underscores Nigeria’s fiscal recovery and enhances the government’s ability to fund critical social and infrastructural initiatives.
To further improve the agency’s operational capacity, Edun approved the recruitment of 3,927 personnel for the 2024/2025 period, addressing staffing gaps identified through a comprehensive needs assessment.
The Minister attributed this revenue achievement to President Bola Tinubu’s bold economic reforms, which he said are driving the country toward stability and sustainable growth.
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He emphasised the pivotal role of the NCS in the government’s fiscal consolidation strategy, which aims to align revenues and expenditures to foster macroeconomic stability.
Edun also outlined the government’s expectations as part of the N48 trillion “Budget of Restoration” for 2025.
Of this amount, N35 trillion is projected to come from revenues, with the balance to be sourced through concessionary loans, international grants, and domestic borrowing.
He described the budget as a blueprint for economic revival, prioritising security, job creation, and poverty reduction.
The Minister lauded Comptroller General Adewale Adeniyi and the NCS team for their dedication and urged them to sustain their efforts in driving economic growth and achieving the administration’s economic objectives.
