“Finance Minister Highlights Customs’ Crucial Role in Achieving Nigeria’s ₦48 Trillion Budget by 2025”

The Nigeria Customs Service (NCS) has received commendation for its crucial role in driving Nigeria’s economic recovery and supporting the Federal Government’s ambitious ₦48 trillion expenditure target for 2025.

During the 61st quarterly board meeting of the NCS on Wednesday, December 18, at the Customs House, Maitama, Abuja, the Minister of Finance, Mr. Olawale Edun, emphasized the agency’s pivotal contributions. The meeting followed the presentation of the 2025 budget by President Bola Ahmed Tinubu to the National Assembly, aptly tagged “A Budget of Restoration.”

The ₦48 trillion budget envisions ₦35 trillion in revenue, with the NCS designated as a key player in meeting this target. Highlighting the agency’s performance, Mr. Edun revealed that by November 2024, the NCS had already generated over ₦5 trillion in revenue.

“The NCS and other revenue-generating agencies have performed exceptionally well, which can be attributed to the reforms initiated by President Tinubu’s administration,” Mr. Edun remarked.

To address the ₦13 trillion funding gap, the Minister outlined the government’s strategy to secure concessionary loans, grants, and development support. He also announced that the NCS’s 2024 accomplishments were thoroughly reviewed, leading to the approval of the recruitment of 3,927 officers and special promotions for outstanding personnel to enhance capacity and trade facilitation.

Mr. Edun further lauded the NCS for its successes in combating smuggling and advancing trade, which he described as critical to national growth and job creation.

“The NCS has not only excelled in suppressing illegal activities but has also facilitated legitimate trade that drives economic growth and poverty reduction,” he added.

The Finance Minister urged Customs officers to remain steadfast in their dedication to national objectives, highlighting their integral role in restoring fiscal stability and achieving sustainable economic growth.

As Nigeria advances toward its ₦48 trillion target, the Tinubu administration continues to prioritize reforms and initiatives that strengthen the capacity of agencies like the NCS, ensuring their alignment with the country’s broader development goals.

This flashback and reflection underscore the NCS’s vital contributions to revenue generation and national economic recovery under the 2025 budget framework.