…intercepts smuggled goods worth ₦7.7bn
The Nigeria Customs Service’s (NCS) in the first quarter of 2025 exceeded its revenue target for the quarter by N106.5 billion, achieving 106.47 per cent of its quarterly projection.
The Service’s revenue collection for Q1’25 totaled N1.75 trillion . This is against the Service annual target of N6.58 trillion , the first quarter’s proportional benchmark stood at N1. 6 trillion.
Also, duty exemptions on essential food imports between 2024 and first quarter of 2025 grossed over N95.1 billion, culminating in the current reduction in prices of maize, rice and sorghum being witnessed across the country, Comptroller General of Customs, Mr. Wale Adeniyi, has said.
Adeniyi spoke on Tuesday in Abuja while addressing the media on activities of the Service in the first quarter of 2025. Adeniyi, who said the Service aligned its duty exemption in support of Federal Government’s food security initiatives, said implementing of directive led to reduction in prices of essential foods.
According to the breakdown of exemptions granted, the first quarter of 2025, customs granted N45.3 billion (FOB value on maize ), rice (N751.6 million), and sorghum (N2.3 billion) which contributed to lowering prices by 12-18 per cent this year.
“At the same time, the larger exemptions from 2024 on rice (N45.9 billion FOB) and wheat (N2.8 billion) are now showing their full effect after taking time to work through the supply chain. This combination of current and past exemptions helps explain the steady improvement in food affordability.
“The 2024 measures initially faced delays in reaching markets but eventually increased supplies, while the 2025 waivers provided additional support.
Together, these policies have helped stabilise prices by improving availability at different times, showing how customs adjustments can influence food costs both in the short term and over longer periods.
“The NBS price data reflects this pattern, where the benefits of duty relief emerge gradually but add up to make food more affordable.Results speak louder than plans; faster clearances through B’Odogwu, trusted traders in the AEO program, and measurable food price relief from our exemptions. We’ll keep scaling what works,” Adeniyi said.
On revenue, he said: “I’m proud to announce we’ve exceeded this target by N106.5 billion, achieving 106.47% of our quarterly projection. This outstanding performance represents a substantial 29.96% increase compared to the same period in 2024, where we collected N1,347,705,251,658.31”.
