The Nigeria Customs Service has said that the total trade value handled by the service in the first quarter of 2025 amounted to N36tn.
The Comptroller-General of Customs, Adewale Adeniyi, stated this in Abuja while briefing journalists on the service’s activities in the first quarter of the year, where he also revealed that the agency garnered N1.75tn as revenue during the review period.
He stated that the figure demonstrated Nigeria’s substantial participation in international trade despite global economic challenges.
Adeniyi added that the performance reflects the NCS’s commitment to implementing trade facilitation measures that enhance Nigeria’s competitiveness in the global market.
“The total trade value handled by the service in Q1 2025 amounted to N36,317,925,576,290.00, demonstrating Nigeria’s substantial participation in international trade despite global economic challenges. This performance reflects our ongoing commitment to implementing trade facilitation measures that enhance Nigeria’s competitiveness in the global market,” he said.
On what the agency made as revenue, he said, “I’m pleased to report the service’s revenue collection for Q1 2025 totaled N1.75tn. Against our annual target of N6.4tn, the first quarter’s proportional benchmark stood at N1.6tn. I am proud to announce that we have exceeded this target by N106.5bn, achieving 106 per cent of our quarterly projection.
“This outstanding performance represents a substantial 29 per cent increase when compared to the same period in 2024, where we collected N1.3tn.”
Adeniyi explained that a month-by-month analysis reveals even more encouraging details of the service’s growth trajectory.
He stressed that January’s collection of N647bn not only surpassed its monthly target of N548bn by 18 per cent, but also showed a remarkable 65 per cent year-on-year growth.
The CGC further said that February’s N540bn exceeded its target by 1.3 per cent while achieving 19.97 per cent growth over 2024 figures, “March maintained this positive trend with N563bn, delivering 2.7 per cent above target and an 11.22 per cent improvement over March 2024,” he said.
He highlighted that the performance substantiates the service’s effective measures to curb revenue losses while streamlining compliant trade.
“The 29.96 per cent annual increase and steady monthly collections confirm our strategy is working. We would maintain this momentum through rigorous enforcement and strengthened partnerships,” the CGC said.
Speaking on the anti-smuggling performance, Adeniyi stressed that the service maintained robust anti-smuggling operations during the first quarter of 2025, recording 298 seizures with a total duty paid value of N7.6bn.
According to him, this represents a significant 78.41 per cent increase when compared to the N4.3bn recorded in Q4 2024, demonstrating heightened operational effectiveness.
“However, when compared to Q1 2024’s N9.5bn, the service observed a 19.70 per cent reduction in the duty paid value attributable to improved compliance through sustained stakeholder engagement and the deterrent effect of our enforcement activities,” Adenyi explained.
He added that within the period under review, the service processed 8,153 export shipments, representing a 6.4 per cent decrease from Q4 2024 and a 24.4 per cent decline from Q1 2024.
“Despite fewer transactions, export mass reached 5.03 billion kilograms, a 10 per cent reduction from Q4 2024’s 5.58 billion kg but a remarkable 348 per cent increase from Q1 2024’s 1.12 billion kg. The cost, insurance and freight value stood at N21.51tn, showing a 19 per cent increase from Q4 2024’s N18.07tn while remaining stable compared to Q1 2024’s N21.58tn,” the CGC said.
He opined that the development suggests Nigeria’s accelerating shift toward bulk commodity exports, with significantly larger shipments being processed through fewer transactions while maintaining consistent total export value, reflecting both changing trade patterns and improved processing efficiency in our export systems.
He said that within the period under review, the service processed a total of 327,928 single goods declarations for imports, “handling goods with a total mass of 4,910,640,283.33 kilograms and a cost, insurance, and freight value of N14.8tn.
“This represents a 5.28 per cent increase in the number of import transactions when compared to the 311,492 SGDs processed in Q1 2024, reflecting growing confidence in our trade facilitation measures.”
Adeniyi said that the 40.14 per cent increase in the mass of imports processed from 3,504,173,117.33 kg in Q1 2024 demonstrates robust growth in import volumes, while the 26.72 per cent increase in CIF value from N11.6tn in Q1 2024 indicates a shift towards higher-value goods.
He, however, lamented that despite these achievements, the service encountered several challenges during the quarter that impacted its operations and performance.
“Chief among these was exchange rate volatility, which continued to affect trade patterns and customs valuation. During Q1 2025, we recorded 62 changes in the exchange rate, ranging from a minimum of N1,477.72/$ to a maximum of N1,569.53/$, with an average rate of N1,521.59,” he said.
He reiterated that the volatility, though slightly moderated compared to the same quarter in 202,4, which saw rates as high as N1,688.28/$, continues to create uncertainty for traders and affects the predictability of import costs.
Adeniyi said that the service has been working closely with the Central Bank of Nigeria and the Federal Ministry of Finance to implement measures aimed at stabilising the exchange rate for import declarations.
“Another significant challenge was the implementation and subsequent suspension of the Financial Customs Service Operation, also known as the four percent FOB. This development created temporary operational adjustments for both the Service and our stakeholders.
“In March, we also faced uncertainty regarding the 14 per cent reciprocal tariff imposed on Nigerian exports by the United States of America. This development has potential implications for our export trade and requires strategic diplomatic and policy responses,” he said.
He stated that non-compliance, particularly in the form of smuggling, remains a persistent challenge despite their enhanced enforcement efforts, stressing that the service continues to adapt its strategies to combat increasingly sophisticated smuggling networks, leveraging technology and intelligence-led operations to tackle this threat to our economy and security.
