The Nigeria Customs Service (NCS) has unveiled an ambitious revenue target of N11.074 trillion for the 2026 fiscal year, following a 10.24 per cent surplus recorded in 2025.
Comptroller-General Bashir Adewale Adeniyi revealed the record-breaking projection on Monday during the 2026 budget defence session before the Senate and House of Representatives Committees on Customs.
Adeniyi informed the Senate Committee that while the 2025 revenue target stood at N6.584 trillion, the Service generated N7.277 trillion, exceeding expectations by N674 billion.
He disclosed that N4.43 trillion of the 2026 projection had already been realised as at May 31, 2025.
The Comptroller-General noted that certain government policies, including tariff waivers on Compressed Natural Gas (CNG) and electric vehicles, alongside the yet-to-be-implemented Green Tax, had impacted potential earnings in 2025.
“Despite the major elephant in the room—the crisis in the Middle East—Customs is determined to achieve its 2026 revenue target of N11.074 trillion, or even surpass it,” Adeniyi stated.
The Service presented a proposed expenditure of N1.235 trillion for 2026, comprising N421 billion for personnel costs, N307 billion for overheads, and N565 billion for capital expenditure.
Both committees commended President Bola Tinubu for extending the Comptroller-General’s tenure by six months.
Senator Jibrin Isah (APC, Kogi East), Chairman of the Senate Committee on Customs, congratulated Adeniyi and applauded the reforms implemented under his leadership.
“Customs under your watch has been transformed through revenue-generating reforms, improved anti-smuggling measures, enhanced trade facilitation, and provision of critical infrastructure for ease of doing business,” Isah said.
“Please work harder in 2026 to actualise your budget projections,” he added.
The committees subsequently put the 2026 budget proposal to a voice vote, which received unanimous approval from members present.