The Senate on Wednesday approved the 2026 budget proposal of the Nigeria Customs Service (NCS), endorsing a revenue target of N11.074 trillion and a total expenditure of N1.295 trillion for the 2026 fiscal year.
The approval followed the consideration of the report of the Senate Committee on Customs, Excise and Tariffs, chaired by Isah Jibrin (APC-Kogi), during plenary.
Presenting the report, Mr Jibrin said the committee assessed the agency’s 2025 budget implementation before examining the 2026 estimates.
He disclosed that the Customs Service exceeded its 2025 revenue target of N6.5 trillion, generating about N7.2 trillion, representing a performance of 110.53 per cent.
According to him, the agency’s performance would have been stronger, but for the suspension of telecoms excise duty, healthcare production incentives and global trade disruptions from the Russia-Ukraine conflict, which reduced imports, especially wheat.
