The Nigeria Customs Service (NCS) has confirmed generating N3.7 trillion in revenue during the first half of 2025, a figure announced by Finance Minister Wale Edun during the 62nd meeting of the NCS Board in Abuja on September 2, 2025.
This amount exceeds the budget projection by 12.5 percent and marks a 25 percent increase compared to the same period in 2024, attributed to ongoing trade reforms and the enhanced use of technology, including the upcoming National Single Window Initiative.
The NCS leadership, led by Comptroller-General Bashir Adeniyi, highlighted this as evidence of improved compliance and modernization efforts, though the ambitious target of N6.58 trillion for the full year raises questions about sustainability given past challenges like fluctuating trade volumes.
The revenue boost has sparked optimism about Nigeria’s economic recovery, with Edun noting its role in positioning the country as a trade hub, yet critics question whether the gains truly reflect broad economic health or merely intensified enforcement and tax collection.
The NCS also announced promotions and leadership appointments to strengthen its structure, suggesting a focus on institutional capacity, but the lack of detailed breakdowns on sectoral contributions leaves room for skepticism about the long-term impact.
