Customs: Import duty waivers hit ₦34tn in 2025, affecting revenue

The Nigeria Customs Service (NCS) has disclosed that the value of Import Duty Exemption Certificate (IDEC) approvals reached ₦34 trillion in 2025, describing government-approved waivers as a major factor affecting the agency’s revenue generation. The Comptroller-General of Customs, Adewale Adeniyi, made the disclosure during an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja. According to…

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Customs Intercepts Cannabis, Expired Drugs Worth N12.8 Billion At Apapa Port

The Nigeria Customs Service (NCS), Apapa Area Command, has intercepted three 40-foot containers loaded with Cannabis Sativa and expired pharmaceutical products with a combined Duty Paid Value (DPV) of N12.8 billion at the Lagos Port Complex. According to the Command, officers working in collaboration with the National Drug Law Enforcement Agency (NDLEA) seized a container…

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Nigeria Customs Service Clarifies Forex Rate, Disowns ₦1,451/$1 Figure

The Nigeria Customs Service (NCS) has clarified the process through which foreign exchange rates are applied in import and export valuation, distancing itself from the reported ₦1,451.63 per dollar figure circulated for February 6, 2026. In a statement issued by its National Public Relations Officer, Abdullahi Maiwada, the Service explained that it neither determines nor…

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Nigeria Customs Service Clarifies Exchange Rate Application, Affirms CBN Sole Authority in Customs Valuation

The Nigeria Customs Service (NCS) has issued a formal clarification addressing recent public commentary surrounding foreign exchange rates and their application in customs valuation, reaffirming that it does not determine or manipulate exchange rates used in trade processing. In a detailed statement, the Service emphasized that all exchange rates applied in customs valuation are officially…

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Nigeria Customs Service 2025 Revenue Hits ₦7.28 Trillion, Exceeds Projections

The Nigeria Customs Service (NCS) has announced that its revenue collections for 2025 reached ₦7.28 trillion, surpassing the projected target of ₦6.5 trillion by 10%. This achievement was revealed by the Comptroller General of the NCS, Adewale Adeniyi, during an event to mark the 2026 World Customs Day on Monday. Adeniyi highlighted that the impressive…

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