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 Dipo Olowookere

The Governor of Delta State, Mr Sheriff Oborevwori, has officially joined the All Progressives Congress (APC) from the People’s Democratic Party (PDP).

Mr Oborevwori was elected the Governor of the Niger Delta state under the platform of the PDP in 2023. He was the Speaker of the Delta State House of Assembly before succeeding Mr Ifeanyi Okowa.

The Chief Press Secretary (CPS) of the Governor, Mr Festus Ahon, disclosed on Wednesday that his boss decided to ditch the PDP alongside other critical stakeholders in the state for the APC to align the state with the centre.

According to him, the decision to defect to the APC was taken by the Governor after wide consultations with stakeholders in the state.

It was gathered that Mr Oborevwori held a closed-door meeting with some political heavyweights in Delta State at the Government House this evening.

The CPS said the switch to the APC from the PDP by the Governor and others was “in the interest of Delta’s long-term development.”

Recall that a few days ago, it was speculated that four governors of the PDP were planning to join the ruling APC.

In the past few days, Governor Oborevwori, Governor Umo Eno of Akwa Ibom State and others have endorsed President Bola Tinubu for second term in office.

By Adedapo Adesanya

Fuel distribution company, SGR, has tackled the Independent Petroleum Marketers Association of Nigeria (IPMAN), which raised concerns about the company’s pump price of N899 per litre and its alleged anti-competitive operations.

In a statement, the firm emphasized its commitment to transparency, fair pricing, and the well-being of Nigerian consumers.

SGR clarified that its current price is a reflection of prevailing market conditions, including the cost of fuel procurement, logistics, and the need to sustain service quality across all its outlets nationwide.

“Pricing in a deregulated downstream sector is shaped by multiple market forces,” the statement read. “Our pricing model is competitively aligned with these realities and is not intended to destabilize the market or place pressure on fellow marketers.”

IPMAN had recently argued that major marketers and the Nigerian National Petroleum Company (NNPC) Limited often sell fuel at lower prices than independent marketers, expressing that based on advantages like access to foreign exchange, logistics, and direct supply chains, put its members at a disadvantages since it relies on third-party supply sources and pay higher landing costs.

SGR also reaffirmed its willingness to engage in constructive dialogue with stakeholders like IPMAN to ensure a stable and sustainable fuel supply system in the country.

The organisation reiterated that it remains focused on delivering service excellence and maintaining the trust of its customers in the long term.

This development comes amid wider discussions around fuel pricing and distribution in Nigeria’s evolving energy market.

Since the deregulation of the Nigerian downstream petroleum sector, prices have been reflective based on how the international market operates, aligning with broader efforts to liberalise Nigeria’s oil and gas industry and attract private sector investment.

One of the major aspects of deregulation is that the Nigerian government does not strictly fix or subsidise fuel prices as it did in the past, thereby allowing market forces (demand and supply) to determine the pump prices. This is why prices now vary at different filling stations.