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Home Economy Nigeria Customs Key to Actualizing N48trn 2025 Budget – Minister
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Nigeria Customs Key to Actualizing N48trn 2025 Budget – Minister

By
Abdullahi Maiwada
-
December 23, 2024

Nigeria Customs Key to Actualizing N48trn 2025 Budget – Minister

The Nigeria Customs Service (NCS) has been commended for its pivotal role in boosting Nigeria’s economic recovery, as the Federal Government sets a ₦48 trillion expenditure target for 2025.

The Nigeria Minister of Finance, Mr Olawale Edun, highlighted the NCS’s importance during the 61st quarterly board meeting of the agency held on Wednesday, 18 December, at the Customs House, Maitama, Abuja. The meeting followed President Bola Ahmed Tinubu’s presentation of the 2025 budget to the National Assembly, tagged “A Budget of Restoration.”

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The budget projects ₦35 trillion in revenue, with the NCS expected to play a critical role. Speaking further on the NCS’s performance, Mr Edun disclosed that the agency had generated over ₦5 trillion by November 2024.

“The NCS and other revenue bodies have performed remarkably well,” he said, linking the success to reforms introduced by President Tinubu.

The Honourable Minister further revealed that the government plans to secure concessionary loans, grants, and development support to fund the remaining ₦13 trillion.

Mr. Edun also noted that the board reviewed the NCS’s 2024 achievements, approving the recruitment of 3,927 officers and granting special promotions to top-performing personnel to bridge gaps and enhance trade facilitation.

“The NCS has excelled in suppressing smuggling and fostering trade, crucial for growth and job creation,” he added.

Mr. Edun concluded by urging Customs officers to remain committed to national goals, emphasising the agency’s role in poverty reduction and economic growth.

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FCT Police Warn Residents Against Bribing Traffic OfficersCustoms Board Approves $300 Duty-Free Limit for Imports to Boost CommerceNAF Establishes Forensic, Digital Crime Lab to Tackle InsecurityICPC, State Information Chiefs Forge New Alliance to Combat Grassroots CorruptionRecollecting a Media Dialogue on Words and Extremism in AbujaCustoms, Defence Bureau Unveil Airboat for Smuggling WarShettima Condemns Borno Attack, Assures Perpetrators Won’t Escape Justice​DSS Demands Retraction, Apology from Sowore Over Comments on TinubuBorno Village Attack Leaves Dozens Dead, UN Condemns ViolenceNDLEA Busts Drug Cartel, Arrests Kingpins, Seizes N6.4bn Worth of NarcoticsARASE! I Will Forever Cherish your Kindness and Love -Good Night BossMilitary Plants Trees, Donates Relief Items to Orphans in PlateauPHOTOS: BUK Alumni Association Launches Digital Hub to Unite Global Graduates, Drive University DevelopmentAgain, ​IPRA Shortlists Nigeria Customs, IMPR for Golden World Awards, Celebrates 70th Anniversary in AfricaArmy Neutralize Notorious Bandit Leader, Others, Rescue Victims, Recover Weapons in Kogi
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