The Senate has approved the 2026 budget proposal of the Nigerian Customs Service (NCS), endorsing a revenue target of N11.074 trillion and an expenditure estimate of N1.295 trillion for the fiscal year.
The approval followed the adoption of the report of the Senate Committee on Customs, Excise and Tariffs during plenary.
Presenting the report, Committee Chairman Senator Isah Jibrin said the Customs Service exceeded its 2025 revenue target of N6.5 trillion, generating about N7.2 trillion, representing a 110.53 per cent performance.
He attributed the strong performance to improved revenue collection but noted that earnings were affected by the suspension of excise duty on telecommunications services, fiscal policies supporting local healthcare production, and disruptions to global trade caused by the Russia-Ukraine war.
The committee also disclosed that although the agency had an approved 2025 budget of N1.132 trillion, actual expenditure stood at N591 billion, largely due to delays in project approvals by the Bureau of Public Procurement and the Federal Executive Council.
According to the report, the Customs Service plans to achieve its 2026 revenue target through greater deployment of technology, enhanced revenue recovery measures, real-time audit systems, improved trade facilitation and intensified anti-smuggling operations.
The approved N1.295 trillion expenditure includes N421 billion for personnel costs, N307 billion for overheads, and N565 billion for capital projects, to be funded mainly through the statutory four per cent Free on Board levy under the Nigerian Customs Service Act, 2023.
Deputy Senate President Barau Jibrin praised the Customs Service for surpassing its revenue target and commended the leadership of the Comptroller-General, describing the agency’s performance as evidence of fiscal discipline and effective reforms.
He said the proposed N11 trillion revenue target reflects confidence in the ongoing reforms within the Service and noted that the agency’s spending pattern prioritises capital projects over overhead costs.
Following a voice vote conducted by Senate President Godswill Akpabio, lawmakers unanimously approved both the revenue target and expenditure estimates.
Akpabio commended the Senate committee for its detailed scrutiny of the proposal and expressed confidence that the approved budget would strengthen Customs operations, boost non-oil revenue generation and support the Federal Government’s fiscal objectives.
