Maritime Agencies
2024: Customs Exceeds 20% Of Annual Revenue Target In 3 Months, Rakes In N1.3trn.

By Izuchukwu Ozoemena
The Nigeria Customs Service (NCS) collected N1.34trillion, January to March, in the face of declining cargo throughput estimated to have dwindled by 4.89 percent in the first quarter of 2024. By this collection, the NCS exceeded her annual revenue target of N5.07Trn by 20 percent.
Comptroller-General of Customs, Bashir Adewale Adeniyi disclosed this in Abuja, Wednesday, while unveiling Custom’s activities in the first quarter, 2024.
Total revenue collected during this period, he stated, amounted to N1,347,675,608,972.75.
“The collection for the first quarter represents a substantial increase of 122.35% compared to the same period last year, which was N606,119,935,146.67. Month-by-month analysis further illustrates the Service’s impressive growth trajectory.”
“In January 2024, revenue collection surged by 95.60%, reaching N390,824,148,326.55 from N199,809,974,327.52 recorded in January 2023. This upward trend continued in February 2024, with a staggering 138.68% growth, elevating revenue collection to N450,209,267,557.15 from N188,625,011,386.87 in February 2023. By March 2024, the revenue collected by NCS revenue grew by 132.76% from N217,669,949,432.28 to N506,642,193,019.05.”
When compared to the Custom’s 2024 annual revenue target of N5.07 trillion which translates to N423 billion monthly, the Service is recording an average monthly revenue growth of 6.2% over the set monthly target and a cumulative revenue collection of 18.6%, equivalent to N78,675,608,972.75 over the set quarterly target of N1.269 trillion.
The Customs boss, however, observed that there have been challenges related to non-compliance with regulations, infrastructure limitations, and a notable decline in cargo throughput, evidenced by a 4.89% decrease in the volume of transactions handled.
Significant fluctuations in exchange rates applied in the customs clearance of consignments posed considerable difficulties, he admitted.
“As per protocol, the exchange rate utilized by Customs in the clearance of goods via the Nigeria Integrated Customs Information System (NICIS) is based on the rate determined by the Central Bank of Nigeria (CBN).
“In the last quarter, a total of 28 rates were directed by the CBN, ranging from N951.94 per USD 1 in January 2024 to a peak of N1,662.35 per USD 1 in February 2024.”
“While a singular exchange rate of N951.94 per USD 1 was maintained in January, February witnessed 15 different spot rates ranging from N951.94 per USD 1 to N1,662.35 per USD 1. March saw a total of 13 different spot rates applied, ranging from N1,303.84 to N1,630.16. These fluctuations resulted in an average applied exchange rate of N1,314.03 per USD 1 in the clearance of Customs goods during the quarter,” the CGC observed.
First quarter of 2024, he explained, NCS recorded a total of 572 seizures, made up of assorted various items valued at N10,593,099,654.50 in Duty Paid Value (DPV).
“Notably, January saw 111 seizures amounting to N842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totalling N3,704,703,350.34. Rice constituted 39% of the seizures, followed by petroleum products at 26%, with motor vehicles and textiles accounting for 9% and 6% of the seizures, respectively. During this period, the NCS detained 22 suspects, and appropriate legal measures will be taken in accordance with the Nigeria Customs Service Act 2023,” he said.
As expected, he announced, trade facilitation remains a central focus of the NCS operations. In the period under review, the Service went a notch to streamline processes, minimize bottlenecks and optimize efficiency across Nigerian ports to ensure seamless trade transactions.
In the period January to March, 2024, the Service processed a total of 311,492 Single Goods Declarations (SGDs) for imports, reflecting the volume of import transactions handled.
“This figure indicates a decrease compared to the total volume of 327,491 processed in 2023 and 403,233 SGDs in 2022.”
“Regarding export transactions, a total of 10,786 SGDs were processed in 2024 compared to 9,752 transactions in 2023, representing a 10.60% growth in export activities. Notably, a significant portion of this growth occurred in January, with 4,067 transactions processed in 2024 compared to 3,352 SGDs in 2023, marking a 29.69% increase,” he explained.
Regarding non-oil exports, CGC Adeniyi stressed that the Service remains particularly interested in the growth in this area, in line with the policy thrust and priorities of President Bola Ahmed Tinubu’s administration and the initiatives pursued by NCS in recent times.
Maritime Agencies
Distinguish Between Reclamation and Industrial Dredging, Dredgers’ Association Tells Works Minister.

By Izuchukwu Ozoemena
The Dredgers’ Association of Nigeria (DAN) has advised the Minister of Works, David Umahi, to separate reclamation activities from industrial dredging so as not to confuse Nigerians over the two different types of economic activity.
Rising from an emergency meeting in Lagos, Wednesday, DAN took a strong exception to an accusation by the Minister that dredgers are responsible for the poor infrastructural state of Eko and Carter bridges in Lagos.
Disagreeing with the Minister’s position, Mr Richard Ntan, DAN’s General Secretary, submitted that there is no direct corelation between
dredging and bridge infrastructure.
“We wish to clarify that industrial dredging carried out by our members is not the cause of the damage observed in these structures,”
Industrial dredging, according to DAN, is highly regulated, focusing on areas in the creeks and centre of the Lagos lagoon far away from the bridges. Industrial dredging carried out by DAN members is a key essential for maintaining navigable waterways and smooth movement of vessels in and out of Lagos. It is crucial and contributes to growing the city’s economic development.
Industrial dredging, the association’s scribe further clarified, is not harmful to infrastructure such as bridges because the process is driven through a well-articulated environmental ecosystem assessment which ensures deeper waterways for large vessels. There is regulation through professional methods strictly supervised to minimise any negative impact.
However, the association called for thorough investigation of the ongoing reclamation dredging near Third Mainland Bridge as it is time to truly know the status of those who do reclamation dredging activities as against industrial dredging only members of DAN are known for.
“We at DAN support the Minister that reclamation dredging activities should not take place near bridges. It’s important that the Minister finds out the true picture of those dredging near bridges and also not lump us at the Dredgers Association of Nigeria with such operators,” Ntan stated.
Dredgers Association of Nigeria, he insisted, remains committed to the responsible conduct of dredging activities in Lagos and across Nigeria in full compliance with national regulations to ensure that operations and activities do not harm the environment or vital national infrastructure.
DAN, he added, shares in the Minister’s concerns about the need to preserve Nigeria’s infrastructure.
“We are dedicated to ensuring that all dredging operations are carried out in ways that support the nation’s economic growth while safeguarding critical infrastructure such as bridges”.
Maritime Agencies
Enugu Trade Fair: NPA MD Markets Agency’s Simplified Export Processes That Favour Investors.

By Izuchukwu Ozoemena
The Nigerian Ports Authority (NPA) is linking value creators in the remotest part of the hinterland with the farthest clusters of demand anywhere on the globe even as it strengthens the domestic economy by promoting balance of trade and establishment of the Export Process Terminals
(EPTs) to simplify the burdensome processes of exporting Nigerian goods.
Therefore, the NPA Managing Director, Dr Abubakar Dantsoho, implores the trading and investing public to explore the tailor-made simplified export processes and other vistas of opportunity available at the agency.
Dr Dantsoho made this call during the ‘NPA Special Day’ session at the 36th Enugu International Trade Fair, with the theme “Developing Nigeria’s Industrial Sector / SMEs for Economic Advancement and Global Recognition”.
He stated that as Nigeria’s foremost trade facilitation platform, the NPA is always proud to be associated with the noble cause that the Trade Fair represents, especially seeing that trade remains the most veritable tool for actualising most of Nigeria’s economic aspirations.
The doors of NPA, he assured stakeholders, are always open for partnerships even beyond the trade fair.
“I therefore want to warmly invite you to interact with our business development team at the NPA pavilion and to also visit our fully interactive online real time website www.nigerianports.gov.ng to access our growth offerings,” he announced.
Dr Dantsoho explained that the EPTs were conceptualized to serve as a one-stop-shop for cargo consolidation, stuffing, documentation, packaging, certification and onward shipment through electronic call-up to the Ports in quick turnaround time, thus eliminating the duplications and bureaucratic overlaps that previously rendered Nigerian exports uncompetitive in the international marketplace.
“To facilitate Port-Hinterland connectivity and create pathways for Small and Medium Scale Enterprises (SMEs) to play in the export value chain, the EPTs are to be linked with Domestic Export Warehouses (DEWs) in synergy with the NEPC and relevant partners.
“To align with the ease of doing business orientation of the Federal Government and the theme of the year’s fair “Developing Nigeria’s Industrial Sector / SMEs for Economic Advancement and Global Recognition”, we are aggressively simplifying our export processes to enable made-in-Nigeria goods transit through our Ports as seamlessly as possible.”
The NPA MD further disclosed that to achieve the goal, the agency is eliminating human interface which encourages underhand dealings by pursuing the full automation of NPA processes and procedures through the Ports Community System (PCS) which lays the groundwork for the implementation of the National Single Window (NSW).
“For clarity, the NSW is the global best practice for delivering the greatest value with the greatest ease by connecting all stakeholders in the trade value chain for seamless interaction at the push of a button,” Dr Dantsoho said.
Dr Dantsoho commended the Enugu Chamber of Commerce, Industry, Mines & Agriculture (ECCIMA) for the resilience to sustain the culture of hospitality and business friendliness that has continued to attract people from all over the globe to be a part of the Trade Fair which is deepening economic prosperity.
He stated that the strategic position of Enugu as the gateway to the South-Eastern hinterland presents huge opportunities for the expansion of export opportunities which is the focal point of the NPA.
Maritime Agencies
Q1, 2025: Tincan Island Port Customs Collects N347bn, Breaks Record.

By Izuchukwu Ozoemena
The Tincan Island Port Command of the Nigeria Customs Service posted over N347 billion as revenue collection between January and March, 2025, the Customs Area Controller (CAC), Comptroller Frank Onyeka has said.
Comptroller Onyeka who disclosed this to journalists in his office stated that the breakthrough is in furtherance of the Comptroller-General of Customs, Adewale Adeniyi’s directive on consolidating his policy on collaboration and innovation in discharging the core mandate and functions of the Service.
The January, 2025 revenue generation record, the CAC explained, shows a total of ₦116, 412,735,766.23 which represents 24.06% over and above the figure of ₦88, 430,126,122.76 recorded within the corresponding period of 2024.
The disposition for February 2025 also shows that the sum of ₦103,254,292,839.23k was generated, indicating 2.90 % over and above the sum of ₦100,253,187,074.72k realized during the corresponding month of February 2024.
The Command generated the sum of ₦128,268,749,635.00k for March 2025 and this is 10.3% higher than the ₦115,100,000,000.00k generated over the corresponding period of 2024.
The total amount generated for the first quarter of 2025 is thus ₦347,935,672,476.00k which is 12.6% higher than the ₦304,000,000,000.00k generated in the corresponding period of 2024. The CAC of the Comand announced this figure while speaking with a group of journalists at the conference room of the Command.
Comptroller Onyeka also used the occasion to harp on the need for stakeholders to do more honest declarations so that seamless operational environment may exist and all sides may benefit from a much better conducive ecosystem. He was particularly appreciative of the support of the CG of Customs and the positive reviews that the media has so far accorded the Command.
Comptroller Onyeka promised to continue to engage stakholders in every way possible so that there can be more all round improvement in all aspects of their operations.
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