Nigeria Customs Service Sets N11.074 Trillion Revenue Target for 2026

The Nigeria Customs Service (NCS) has established a revenue target of N11.074 trillion for the 2026 fiscal year, a goal approved by the Nigerian Senate and House of Representatives. To support this objective, the Senate approved a total expenditure of N1.295 trillion, allocating N421 billion for personnel, N307 billion for overheads, and N565 billion for capital projects.

This projection follows a successful 2025 period in which the agency generated N7.277 trillion, exceeding its N6.584 trillion target by 10.24%. However, Comptroller-General Bashir Adewale Adeniyi noted that mid-year revenues for 2026 have already fallen short of the N5.5 trillion target, attributing the decline to supply chain disruptions caused by tensions in the Middle East, specifically around the Strait of Hormuz.

To drive future growth, the NCS is deploying the Unified Customs Information System to automate operations and enhance trade facilitation. As part of the 2026 fiscal policy, the agency reduced import tariffs on used vehicles from 15 percent to 5 percent and on brand-new vehicles from 20 percent to 10 percent. While these measures aim to stimulate economic activity, Adeniyi warned they could potentially reduce total revenue collection.

Legislators commended the agency's fiscal discipline and the decision by President Bola Ahmed Tinubu to extend Adeniyi's tenure to consolidate these reforms. Despite the 2025 revenue success, the Senate noted that the agency spent only N591 billion of its approved N1.132 trillion budget that year due to administrative delays from the Bureau of Public Procurement.