The Nigerian Senate has approved a ₦11 trillion revenue target for the Nigeria Customs Service (NCS) for the 2026 fiscal year.
The approval follows the agency's budget defense session before the relevant parliamentary committee, setting a new benchmark for customs collections in the country.
24%. The jump to ₦11 trillion for 2026 implies an expected growth rate of approximately 51% year-over-year, reflecting the government's reliance on customs duties to bolster federal revenue.
The approved target marks a substantial increase from the previous year's performance.
In 2025, the NCS reported collecting ₦7.28 trillion, exceeding its initial target for that period by 10.24%.
The jump to ₦11 trillion for 2026 implies an expected growth rate of approximately 51% year-over-year, reflecting the government's reliance on customs duties to bolster federal revenue.
This aggressive fiscal stance comes as Nigeria continues to navigate economic pressures and seeks to diversify revenue streams beyond oil.