By Nathaniel Zaccheaus, Abuja
The Senate on Wednesday set a revenue target of N11.074 trillion for the Nigeria Customs Service (NCS) for the 2026 fiscal year, after the agency surpassed its 2025 revenue projection by more than N700 billion, a performance lawmakers described as evidence of improved efficiency and prudent management.
The upper chamber also endorsed the Service’s N1.295 trillion expenditure proposal for the 2026 fiscal year following the presentation of the Senate Committee on Customs, Excise and Tariffs’ report.
Presenting the report, Chairman of the committee, Senator Isah Jibrin, said the panel thoroughly examined the agency’s 2025 budget implementation and was satisfied with its revenue performance before recommending approval of the 2026 estimates.
He disclosed that although the Customs Service was given a revenue target of N6.5 trillion in 2025, it generated N7.2 trillion, representing about 110.5 per cent of the approved target.
According to him, the Service would have generated even higher revenue but for fiscal policies aimed at boosting local production and the disruption of international trade caused by the Russia-Ukraine war, which affected the volume of imports, particularly wheat.
Jibrin explained that the Customs Service had an approved expenditure of N1.132 trillion for 2025 but spent about N591 billion, attributing the relatively low implementation level to delays in obtaining statutory approvals from agencies such as the Bureau of Public Procurement.
He assured lawmakers that projects not executed during the current fiscal year would be rolled over and implemented in 2026.
The committee chairman said the Service was projecting N11.074 trillion in revenue next year through expanded deployment of technology, improved revenue recovery strategies, real-time systems audits and enhanced trade facilitation measures.
He further explained that the proposed N1.295 trillion expenditure comprises N421 billion for personnel costs, N307 billion for overheads and N565 billion for capital projects.
According to him, the capital allocation will finance the completion of the Nigeria Customs Service headquarters and other ongoing infrastructure projects nationwide.
Jibrin added that the agency’s major source of funding remains the four per cent Free-on-Board value of imports as provided under the Nigeria Customs Service Act.
He urged the Senate to approve both the proposed revenue target and expenditure estimates for the 2026 financial year.
Contributing to the debate, Deputy Senate President Barau Jibrin commended the Customs Service and its Comptroller-General for exceeding the 2025 revenue target while maintaining fiscal discipline.
He described the agency’s performance as remarkable, noting that it generated N7.2 trillion against a target of N6.5 trillion despite prevailing economic challenges.
Barau also praised the proposed spending pattern, noting that the Service allocated more funds to capital projects than to overhead costs, a development he said reflected prudent financial management and a commitment to national development.
He said the officers and men of the Nigeria Customs Service deserved commendation for their patriotism, innovation and sustained efforts at increasing government revenue.
Following the adoption of the committee’s recommendations, the Senate unanimously approved the N11.074 trillion revenue target and the N1.295 trillion expenditure proposal for the Nigeria Customs Service for the 2026 fiscal year.
Senate President Godswill Akpabio commended the committee for its detailed scrutiny of the budget estimates and congratulated the Nigeria Customs Service on securing legislative approval for its 2026 budget, expressing confidence that the agency would sustain its impressive revenue performance in the coming fiscal year.
