Business

Senate mulls raising Customs revenue target to curb further borrowing

The Nigerian Senate has informed the Nigeria Customs Service (NCS) that the agency’s 2024 revenue target of N5.079 trillion will be reconsidered upwards in the latter part of the year to prevent additional borrowing for the country.


Senator Isah Jibrin, Chairman of the Senate Committee on Customs, conveyed this message during a significant meeting with Adewale Adeniyi, the Comptroller General of the Nigeria Customs Service, and senior officials of the revenue agency.


Responding to queries from legislators, Adewale Adeniyi, the Comptroller General of the Nigeria Customs Service (NCS), indicated that the service is requesting government approval to grant waivers to individuals who own smuggled vehicles, allowing them to rectify their Customs duty payments.