Budget 2025: Reps reveals total allocation for Customs Service

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

The House of Representatives has approved a budget of N1.132 trillion for the Nigeria Customs Service (NCS) for the 2025 fiscal year. The budget breakdown includes N645,418,485,753 for ongoing capital projects, N247,156,436,799 for personnel costs, and N239,973,932,653.35 for overhead costs.

For further information, read more details here

According to the House Committee on Customs and Excise, the NCS is expected to generate N1.070 trillion of the budget, based on a 4% Free On Board (FOB) and Cost of Service (CoS), as well as N33,007,042,273.87 from the agency’s 2% share of imports value-added tax (VAT) for 2025

The lawmakers have also directed the NCS to stop collecting the 1% Comprehensive Import Supervision Scheme (CISS) and 7% Cost of Collection, citing that these charges are not backed by any law. Instead, the Service should stick to the 4% FOB as its primary source of income.

“We need to ensure that the Customs Service operates within the bounds of the law,” said the Chairman of the House Committee on Customs and Excise, Leke Abejide, although the exact quote wasn’t captured in the report, the committee’s recommendation reflects this stance.

Additionally, the House has urged the NCS to make substantial provisions for Corporate Social Responsibility (CSR) to foster a harmonious relationship with border communities. The lawmakers have also approved the reintroduction of excise duty on telecom services and single-use plastics policies to boost revenue generation.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post