Nigeria Customs Service Surpasses Revenue Expectations in 2024, Generates N5.08bn From Lekki Port

In a remarkable display of growth and efficiency, the Nigeria Customs Service (NCS) has announced that it has generated a staggering N5.08 billion from the Lekki Port and N74.048 billion from the Lagos Free Zone (LFZ) in 2024.

This impressive feat has not only exceeded revenue expectations but also highlights the promising future of Nigeria’s trade and economic development.

The Lagos Free Trade Zone Command of the NCS has surpassed its revenue target by a remarkable 102.82%, generating a total of N68.960 billion from the Lagos Free Zone and N5.08 billion from the Lekki Port.

This significant increase in revenue can be attributed to the strategic initiatives and policies implemented by the NCS in recent years.

Comptroller Mohammed Babandede, the Customs Area Controller, expressed his delight at the achievement, stating that “the revenue generated in 2024, surpassed the N25.050 billion revenue generated by the command in 2022.”

He further emphasized the importance of the free zones in promoting foreign direct investment, employment opportunities, and technology transfer, which are crucial for Nigeria’s economic growth.

In addition to the impressive revenue figures, the NCS has also been actively engaging with stakeholders to ensure seamless trade operations.

Recently, the Acting Comptroller General of the NCS, Adewale Adeniyi, visited the Lekki Port and described it as a game-changer and a massive source of revenue for the Nigerian government.

The Customs boss also affirmed the agency’s support for the port, which is expected to contribute significantly to Nigeria’s economic prosperity.

The Nigeria Customs Service has demonstrated its commitment to boosting trade and revenue generation in the country. With the recent successes at the Lekki Port and the Lagos Free Zone, the NCS has set the stage for a prosperous future.

As Nigeria continues to attract foreign investment and develop its trade infrastructure, the NCS will undoubtedly play a pivotal role in ensuring that the country remains on the path to economic growth and development.