The Nigeria Customs Service (NCS) has announced revenue collection of N6.1 trillion for 2024, surpassing its target by N1.026 trillion. Comptroller General Adewale Adeniyi revealed these figures during a press briefing in Abuja on Tuesday, highlighting a 90.4% increase from the N3.2 trillion collected in 2023.

The collection was broken down into three main components:

- Federation accounts: N3.6 trillion

- Non-federation account levies: N816.9 billion

- Value-added tax: N1.6 trillion

Notably, these results were achieved despite the government granting N1.68 trillion in concessions to support various economic sectors throughout 2024. Building on this, the federal government has set an even more ambitious target of N8 trillion for 2025.

To meet this new challenge, Adeniyi announced plans to leverage "Odogwu," a revenue collection technology developed under the Trade Modernisation Project in late 2024. This system will be central to the Service's strategy for achieving its heightened collection goals in the coming year.

The substantial increase in revenue collection signifies improved efficiency in customs operations and potentially stronger trade activity in Nigeria during 2024.​​​​​​​​​​​​​​​​