Finance Minister: Customs Contribution Vital for Nigeria’s N48 Trillion 2025 Budget
The Nigeria Customs Service (NCS) has received commendation for its vital role in enhancing Nigeria’s economic recovery. This recognition comes as the Federal Government sets an ambitious ₦48 trillion expenditure target for 2025.
Minister of Finance Olawale Edun highlighted the NCS’s significance during the agency’s 61st quarterly board meeting, held on December 18 at the Customs House in Abuja. This meeting followed President Bola Ahmed Tinubu’s presentation of the 2025 budget, dubbed “A Budget of Restoration,” which projects ₦35 trillion in revenue.
The NCS is expected to play a crucial role in achieving this revenue target, having already generated over ₦5 trillion by November 2024. This impressive performance underscores the agency’s importance in boosting Nigeria’s economic growth.
“The NCS and other revenue bodies have performed remarkably well,” he said, linking the success to reforms introduced by President Tinubu.
The Honourable Minister revealed that the government plans to secure concessionary loans, grants, and development support to fund the remaining ₦13 trillion needed to meet its 2025 expenditure target.
Mr. Edun noted that the board reviewed the Nigeria Customs Service’s (NCS) 2024 achievements, approving the recruitment of 3,927 officers and granting special promotions to top-performing personnel. This move aims to bridge gaps and enhance trade facilitation.
The Minister commended the NCS for excelling in suppressing smuggling and fostering trade, crucial for growth and job creation. He emphasized the agency’s role in poverty reduction and economic growth, urging Customs officers to remain committed to national goals.
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