General
Customs Records N1.75trn Revenue in Q1 2025
By Adedapo Adesanya
The Nigeria Customs Service (NCS) recorded N1.75 trillion in revenue, intercepted N7.7 billion worth of contraband, and processed N36.3 trillion worth of trade in the first quarter of 2025.
The Comptroller-General, Mr Bashir Adewale Adeniyi, announced the record-breaking revenue collection, saying the N1.75 trillion revenue for the first quarter of 2025—surpassing its quarterly target by N106.5 billion and marks a 29.96 per cent increase over the same period in 2024.
According to him, the performance reflects the impact of reforms initiated under President Bola Ahmed Tinubu’s administration and the leadership of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.
“Against our quarterly benchmark of N1.645 trillion, we recorded N1.75 trillion—representing 106.47 per cent of the target. This performance speaks to the strategic measures we’ve implemented to plug revenue leakages and promote compliant trade.
“January alone saw the service rake in N647.88 billion—an 18.12 per cent rise above its monthly target and a 65.77 per cent increase compared to January 2024. February and March followed the upward trend with collections of N540.11 billion and N563.52 billion, respectively,” the customs chief stated.
Beyond revenue, the NCS made 298 seizures during the quarter with a total Duty Paid Value of N7.7 billion, a 78.41 per cent increase from Q4 2024. The seizures included 135,474 bags of rice, 65,819 litres of petroleum products, narcotics worth N730.7 million, and wildlife products valued at N5.65 billion.
“These figures show the vigilance and effectiveness of our officers across Nigeria’s borders. We’re not just chasing revenue; we’re also securing our economy and environment from illicit trade,” Mr Adeniyi stated.
He added that the service’s enhanced focus on high-risk commodities like drugs and wildlife was yielding tangible results through intensified intelligence and technology-driven operations.
“In trade facilitation, the NCS processed 327,928 import declarations representing over 4.9 billion kilograms of goods valued at N14.8 trillion—an increase in both volume and value over Q1 2024. Though export declarations dropped by 24 per cent, the volume of export cargo surged by 348 per cent to over 5 billion kilograms, indicating Nigeria’s shift towards bulk commodity exports.
“The total trade value handled in Q1 2025 stood at N36.3 trillion. That’s proof that despite global economic headwinds, Nigeria remains active and growing in international commerce,” the Customs boss said.
Highlighting modernization efforts, Adeniyi cited the expansion of the indigenous B’Odogwu platform to more commands, the launch of the Authorized Economic Operators programme for trusted traders, and the “Customs Cares” corporate social responsibility initiative, which has already benefited over 2,000 students and 1,000 residents with educational and medical support.
“Results speak louder than plans. Faster clearances through B’Odogwu, trusted traders through AEO, and measurable food price relief from our exemptions—we’re scaling what works.”
Mr Adeniyi noted that the service supported national food security by waiving duties on essential food imports like maize, rice, and sorghum. These exemptions, he said, have contributed to a 12–18 per cent drop in food prices nationwide.
However, he acknowledged persistent challenges including exchange rate volatility—recording 62 rate changes in the quarter—and evolving smuggling tactics.
“From a minimum of N1,477 to a high of N1,569 per USD, the unstable exchange rates affected customs valuations and trade predictability. We’re working closely with the Central Bank and the Finance Ministry to stabilize this,” he said.
On outlook, Mr Adeniyi pledged to deepen modernization and improve service delivery through expanded tech deployment and stakeholder engagement.
“We’re building a smarter, faster, and more transparent Customs Service—one that works for the Nigerian people, protects our economy, and enhances national development,” he concluded.
The Comptroller-General also extended gratitude to Customs personnel, federal authorities, and trade partners, calling for continued cooperation to advance Nigeria’s economic and security interests.
By Modupe Gbadeyanka
President Bola Tinubu on Thursday directed the Economic and Financial Crimes Commission (EFCC) to vacate the court ordering the freezing of the bank account of the Osun Srate government.
In a statement today by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, the President said he’s “deeply embarrassed not by the EFCC’s exercise of its mandate backed by a court order” because of its timing, which is just a few days to the governorship election in the state next Saturday.
According to him, actions of an institution of State, especially at the Federal level, is always credited to me, as the President, even when I may not have had any prior knowledge of the action.
“Since assuming office, I have consistently maintained that anti-corruption and law enforcement agencies must be allowed to discharge their statutory responsibilities independently, professionally, without fear or favour, or political interference. I have therefore deliberately refrained from directing or interfering in the operational activities of the EFCC or any other investigative or prosecutorial agency because I firmly believe that strong democratic institutions, operating within the confines of the law, are indispensable to democratic good governance and the rule of law.
“As President, I am committed to allowing institutions of State to function and take any action they consider necessary in the interest of proper governance without the need for any prior approval. Indeed, that is why institutions are set up by law with clearly defined powers. While I am yet to be fully apprised of the facts which informed the action of EFCC in approaching the court to obtain the said order freezing the Osun State Government account, I am not in the slightest doubt that the timing of the action of EFCC is inauspicious, and therefore I feel compelled to intervene.
“Osun State is only a few days away from its gubernatorial election. Therefore, nothing ought to be done to give an impression that the EFCC or indeed any other agency of the federal government is being used to interfere with the election.
“Based on the foregoing premise, I am duty-bound to issue a directive on this issue in consonance with the overriding public interest in preserving public confidence and the integrity, credibility, and fairness of our democratic process.
“Accordingly, I have directed the EFCC to immediately proceed to the court to vacate the order and discontinue whatever action it has instituted against the Osun State Government in this regard,” the statement stated.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
