The House of Representatives Committee on Customs and Excise has approved the proposed N1.132 trillion budget for the Nigeria Customs Service (NCS) for the 2025 fiscal year.
The approval was granted during a budget defence session held on Monday, where Bashir Adeniyi, Comptroller General of Customs, represented by Bello Jibo, Deputy Comptroller General, Finance, Administration and Technical Services, presented the financial estimates before the committee on Monday.
According to the NCS, the revenue target for 2025 has been set at N6.584 trillion. This comprises N3.853 trillion earmarked for the Federation Account, N1.081 billion for the non-federation account, and N1.650 trillion from import Value Added Tax (VAT).
