The Nigeria Customs Service (NCS) has been lauded for its critical role in bolstering the nation’s economic recovery as the Federal Government unveils an ambitious ₦48 trillion expenditure target for 2025.
Speaking at the 61st quarterly board meeting of the NCS, held on December 18 at the Customs House in Maitama, Abuja, Finance Minister Mr. Olawale Edun underscored the agency’s strategic importance in achieving the government’s fiscal objectives. The meeting followed President Bola Ahmed Tinubu’s presentation of the 2025 budget to the National Assembly, aptly titled “A Budget of Restoration.”
Mr. Edun highlighted the NCS as a cornerstone of revenue generation, emphasizing its role in driving the nation’s economic transformation. He noted that the Customs Service’s efficiency and commitment would be instrumental in actualizing the budget’s goals, which prioritize restoring economic stability, enhancing infrastructure, and fostering sustainable growth.
As the government charts a course for recovery and prosperity, the NCS’s performance remains central to meeting the fiscal targets and delivering on the promises of the “Budget of Restoration.”
The Nigeria Customs Service (NCS) has been hailed for its remarkable contribution to the nation’s revenue generation, as the Federal Government outlines its ambitious ₦48 trillion expenditure plan for 2025.
Finance Minister Mr. Olawale Edun, speaking at the NCS’s 61st quarterly board meeting on December 18 in Abuja, highlighted the agency’s pivotal role in achieving the budget’s projected ₦35 trillion revenue. He revealed that the NCS had already generated over ₦5 trillion by November 2024, attributing the success to strategic reforms initiated by President Bola Ahmed Tinubu.
“The NCS and other revenue bodies have performed remarkably well,” Mr. Edun stated, underscoring the agency’s importance in driving economic recovery and stability.
To bridge the ₦13 trillion funding gap, the Minister disclosed that the government plans to secure concessionary loans, grants, and development assistance. These efforts align with the priorities of the 2025 budget, aptly named “A Budget of Restoration,” which aims to rebuild critical infrastructure, foster growth, and restore fiscal stability.
The NCS’s stellar performance underlines its vital role in Nigeria’s economic transformation as the government charts a course toward sustainable development.
At the NCS’s 61st quarterly board meeting held on December 18 in Abuja, Finance Minister Mr. Olawale Edun announced key decisions aimed at enhancing the agency’s effectiveness. These include the recruitment of 3,927 new officers and the approval of special promotions for top-performing personnel.
“The NCS has excelled in suppressing smuggling and fostering trade, both of which are crucial for economic growth and job creation,” Mr. Edun remarked. He highlighted the agency’s strategic role in reducing poverty and boosting national development through enhanced revenue collection and trade facilitation.
The board also reviewed the NCS’s impressive 2024 performance, which included generating over ₦5 trillion in revenue by November and implementing reforms that strengthened operations.
Mr. Edun concluded by urging Customs officers to remain steadfast in their commitment to national goals, emphasizing that their efforts are vital to achieving the priorities outlined in the 2025 “Budget of Restoration.”
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