The Senate Committee on Customs and Excise has approved a revenue target of N11.074 trillion and an expenditure budget of N1.235 trillion for the Nigeria Customs Service (NCS) in the 2026 fiscal year, significantly raising expectations for the agency’s revenue performance.
The approved revenue target represents a sharp increase from the N6.584 trillion target set for 2025, which the Service surpassed by generating N7.277 trillion in revenue.
Presenting the 2026 budget proposal before the committee, Comptroller-General of Customs, Bashir Adeniyi, disclosed that the Service generated N4.043 trillion between January and June 2026, below the mid-year projection of N5.5 trillion.
Adeniyi attributed the shortfall to reduced cargo throughput caused by geopolitical tensions in the Middle East, which affected international trade volumes and import activities.
Despite the temporary setback, the Customs boss expressed confidence that revenue collections would improve in the second half of the year as geopolitical pressures ease. He noted that June recorded the Service’s highest monthly revenue collection so far in 2026, signalling a positive recovery trend and reinforcing optimism that the agency will meet its ambitious annual target.
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