The Nigeria Customs Service (NCS) came under intense scrutiny, yesterday, as it presented its N6.584 trillion revenue target and N1.132 trillion expenditure plans for 2025 before the Senate Committee on Customs and Excise.

While commending the service for surpassing its 2024 revenue target, senators raised serious concerns over what they described as unjustifiable spikes in spending and a lack of ambition in projected revenue growth.

However, Senate Leader, Opeyemi Bamidele (APC, Ekiti Central), has used the occasion of the 10th Senate’s midterm to reflect on the legislature’s achievements so far and outline its forward-looking agenda.

Still, on budget, the Nigerian Ports Authority (NPA) projected a revenue target of N1.279 trillion for the 2025 fiscal year, representing a 40 per cent increase over 2024’s N865 billion, which the agency surpassed.

According to the proposal, the NCS is targeting N6.584 trillion revenue, drawn from N3.835 trillion (Federation Account), N1.081 trillion (Non-Federation Account) and N1.650 trillion (Import VAT).

Expenditure is projected at N1.132 trillion, to be sourced from per cent Free On Board (FOB), two per cent Nigeria Trade Summary (NTS) share, and allocations for ongoing capital projects.

Responding to lawmakers’ queries, Deputy Comptroller-General of Customs, Jibo Bello, clarified that the Service does not set its own revenue targets, adding: “Targets are determined by the Medium-Term Revenue Framework (MTRF) and assigned by a federal committee based on past performance,” he explained. “The 2024 target increased by 21.2 per cent, not two per cent as earlier suggested.”

He also defended the 2025 expenditure hike, noting that Customs received only N290 billion of the N706 billion approved for 2024 due to the suspension of the four per cent FOB funding mechanism included in the newly signed Customs Act.

The committee is expected to continue its scrutiny in the coming days, focusing on cost-efficiency, internal reforms and revenue projections. A senator said: “Customs has the potential to do more, but this budget must reflect that ambition.”

In a midterm statement released yesterday, Bamidele described the milestone as a moment for sober reflection on the gains of democracy, the sacrifices made, and the urgent reforms still required to strengthen governance in Nigeria.

Addressing public criticism of the 10th Assembly’s working relationship with the executive, Bamidele dismissed claims of a “rubber stamp” legislature. He defended the Senate’s collaborative approach, saying it was strategic and results-driven.

Looking into the future, Bamidele outlined a bold reform agenda that includes, stabilising the fiscal and monetary environment, securing lives, property and public infrastructure, tackling inflation and improving national productivity.

He emphasised the urgency of constitutional reform, describing it as essential to correcting structural imbalances in the federation. On his part, while presenting the ports’ 2025 revenue projections and budget proposals before the Senate and House of Representatives Committees on Marine Transport, the Managing Director of NPA, Dr Abubakar Dantsoho, revealed that the agency had remitted N400 billion into the Consolidated Revenue Fund (CRF) in 2024, almost double the amount remitted in 2023, demonstrating improved revenue performance and operational efficiency.

“Our revenue projection for 2025 is N1.279 trillion. This is not just about figures; it reflects our vision of transforming the NPA into a globally competitive and technologically advanced port system,” Dantsoho said.

According to the NPA chief, the projected N1.279 trillion revenue for 2025 is expected from cargo operations (N430 billion), ship dues (N544 billion), concession fees (N240 billion) and administrative charges (N73 billion).

He noted that the ambitious target is based on several strategic developments, including the full commencement of marine operations by Dangote Refinery, expected to attract over 600 vessels yearly.

Some lawmakers expressed concern over the proposed expenditure. Sen Cyril Fasuyi (APC, Ekiti North) urged the NPA to reduce spending, describing the projected N1.14 trillion expenditure for 2025 as excessive.