FGN Applauds NCS for Generating N5 Trillion in 2024, Approves Expansion to boost operational Efficiency
Oru Leonard
The Federal Government of Nigeria has commended the Nigeria Customs Service (NCS), for generating approximately ₦5 trillion in revenue by September 2024.
The Honourable Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun gave the commendation in Abuja when he presided over the 61st meeting of the Nigeria Customs Service (NCS), Board.
This achievement, he said, underscores Nigeria’s fiscal recovery and strengthens the government’s capacity to fund critical social and infrastructural programs. To further boost operational efficiency, HM Edun approved the recruitment of 3,927 new personnel for 2024/2025, addressing staffing gaps based on a comprehensive needs assessment.
The Honourable Minister attributed the revenue success to President Bola Ahmed Tinubu’s decisive economic reforms, which are steering the economy toward stability and sustainable growth. He emphasized that the NCS plays a pivotal role in the government’s fiscal consolidation strategy, aimed at aligning revenues and expenditures to support macroeconomic stability.
As part of the ₦48 trillion “budget of restoration” for 2025, the government expects ₦35 trillion in revenues, with the remainder financed through concessionary loans, international grants, and domestic borrowing.
The Minister described the budget as a blueprint for economic revival, focusing on security, job creation, and poverty reduction.
Commending Comptroller General Bashir Adewale Adeniyi and the NCS team, HM Edun, encouraged sustained commitment to fostering economic growth and achieving the administration’s economic goals.
As we celebrate this remarkable achievement, we look forward to continued growth and prosperity for Nigeria. The NCS’s outstanding performance is a testament to the government’s commitment to fiscal discipline and economic revitalization. We are confident that with the collective efforts of the NCS, the Ministry of Finance, and other stakeholders, Nigeria will continue to thrive and reach new heights of economic excellence.
(FMOF Press)
