Nigeria Customs Service Record Over N1.75tr In First Quarter Of 2025-CG Adeniyi
By Ifeanyi Nwabuogu
LAGOS APRIL 25TH (NEWSRANGERS)-The Nigerian custom service (NCS) under Compcontroller General Wale Adeniyi has continued his success trajectory as they collected over N1.75 trillion revenue within the first quarter of 2025.This was disclosed by the Controller General of the Nigerian custom Service Bashir Wale Adeniyi.
Briefing newsmen on the activities of the service within the Q1 of 2025 , the Comptroller General stated that the duty exemption on essential food imports between 2024 to the first quarter of 2025 stood at N95.1billion .
He said that various waiver by governments has led to the current reductions in the prices of maize, rice and sorghum being witnessed across the country. Adeniyi said the service aligned its duty exemptions in support of the federal government food security initiative, and noted that the implementation of the directive led to the reduction in prices of essential food.
A breakdown of exemptions granted within the period indicates that in first quarter of 2025, customs granted N45.3 billion ( FOB value on maize) rice N751.6 million) Sorghum ( N2.3 billion) which contributed to lowering the price by12.18% this year . The service in the first quarter of 2025 exceeded its revenue target for the quarter by 106.5 billion thereby achieving 106.47% of its quarterly projection . The service revenue collection for the first quarter 2025 totalled N1.75 trillion. This he said is against the service annual target of N6. 58 trillion. The first quarter proportional benchmark stood at N1.6 trillion. In his words ” i am proud to announce we have exceeded our target by N106.5 billion achieving 106% 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, 351, 658,31, our months by month analysis reveals even more encouraging details of this growth trajectory ” he concluded.
For advert placement, events coverage, media consultancy, placement of publications and further inquiries please WhatsApp 2348023773039 or email: labakevwe@yahoo.com
Short URL: https://newsrangers.com/?p=135197
Posted by News Rangers
on Apr 25 2025. Filed under Business, National.
You can follow any responses to this entry through the RSS 2.0.
You can leave a response or trackback to this entry
