Economy
Customs generates N1.293trn revenue in 6 months
The Nigeria Customs Service (NCS), says it has generated N1.293 trillion in the first six months of 2022 into the Federation Account.
The NCS Public Relations Officer, Deputy Comptroller Timi Bomodi said this at a news conference on Friday in Abuja.
He said the amount was an increase compared to N1.004 trillion generated for the corresponding period in 2021.
According to him, the amount generated in 2022 surpassed the service’s achievements for 2021 by N48 billion accounting for 28.8 per cent.
He said the revenue generation was remarkable, given the fact that only 116, 691 Pre-Arrival Assessment Reports (PAARs) were issued against 129, 667 processed within same period of 2021.
“It gives me great pleasure to welcome you to the Headquarters of the Nigeria Customs Service for unveiling of our half year score card.
“It comprehensively captures our activities for the period from January to June 2022.
“The revenue target given to the Nigeria Customs Service for the year 2022 is N3.019 trillion, exceeding the target for 2021 by 80.78 per cent.
“As it has become customary, the service remains focused and steadfast in its commitment to meeting the challenges of the moment.
“It is fully confident in its ability to innovate and adapt to a dynamic socio-economic environment,” he said.
Bomodi said that the sum of N156 billion was also generated into the non-federation account as collections on behalf of other government agencies.
While giving a breakdown of the amount generated within the period under review, the PRO said it was generated from excise, free trade zones and industrial incentives, and anti-smuggling among others.
On excise, free trade zones and industrial incentives, Bomodi said excise duty was tax levied on the manufacture, sale and consumption of goods under excise control.
He said it was collected through 22 commands of the Service.
The PRO said that a total of N68 billion was collected from manufacturers of alcoholic beverages as well as cigarettes and tobacco among other products
“In the month of June, the service began collections from extant traders producing carbonated and sugary drinks newly added under schedule five of the CET.
“So far, the service has collected more than one billion Naira from carbonated and sugary drinks in the month of June.
“Other revenues from telecommunication, like call and data and digital network services are yet to be collected.
“The service is expected to start collecting revenue on these products and services as soon as the modalities for collection are put in place.
“Duties from these revenue sources are expected to boost our collections in the current year,” he said.
Bomodi also said that out of the 42 free trade zones in Nigeria, only 25 were active, with 15 of them operating in Zone ‘A’, 4 in Zone ‘B’, 5 in Zone ‘C’ and 1 in Zone ‘D’.
He said that in addition to providing employment opportunities for Nigerians, the special economic zones were expected to engender transfer of technology, and building of local capacity among others.
On enforcement and anti-smuggling, Bomodi said in the period under review various goods with a total Duty Paid Value (DPV) of N39 billion were seized due to policy infringements.
He said the top seven items seized were narcotics and other illicit drugs with a DPV of N8.8 billion, followed by foreign parboiled rice with a DPV of N8.3 billion
The PRO said that illegal import of dangerous pharmaceuticals with a DPV of N7.6 billion were seized, including used clothing with a DPV of four billion Naira and petroleum products with a DPV of Four billion Naira.
According to him, textiles and made up fabrics with a DPV of three billion Naira and motor vehicles with a DPV of two billion were seized.
Bomodi said the DPV value of seizures in the current year exceeded the ones made in 2021 by N34.8 billion.
On other efforts made by the service in the area of illegal wildlife trafficking and trade, Bomodi said the service had collaborated with the United States Embassy in Nigeria.
He said that the service also collaborated with the British and German governments in creating a Special Wildlife Office
The PRO said the collaboration had seen to the arrest of 12 foreign and local suspects, confiscation of 1, 236.5 kilogramme of pangolin scales and 145 kg of ivory.
According to Bomodi, all suspects have been charged to court and are awaiting conviction.
On anti-money laundering and financing of terrorism, he said the service made seizures of 339,800 dollars, 12,000 Pounds, 3.013 million Ryad, 20,005 Ceifer and 133 Automated Teller Machine (ATM) cards.
He said that seven persons were arrested in violation of the Anti-Money laundering Act and were handed over to the Economic and Financial Crimes Commission (EFCC).
On staff training and welfare, he said officers had continued to upgrade their skills through refresher courses at the various training colleges and at the Command and Staff College among others.
He said the trainings were designed to equip them with the knowledge and know-how to function efficiently in a 21st century Customs administration.
“As we approach an era of 100 per cent automation of all our services, we are mindful of the quality of training needed to manage both the transition and the sophisticated technological assets.
“The service has set out to improve on the living standards of its officers and men.
“To this effect, it has built new barracks and staff quarters across the four zones of the federation and provided bussing services,”he said.
Bomodi said that the service had acquired new and rugged vehicles capable of withstanding the rough terrain particularly in border areas.
“”The service has continued to improve on its business processes through the introduction of innovative services that have simplified, harmonized and automated its core functions.
“One of the successes recorded so far is the VIN-Valuation protocol which uses the vehicle Identity number as a guide for the payment of appropriate taxes,” he said.
He listed other areas of achievement to include stakeholder engagement, deployment of scanners and recruitment.
He assured Nigerians that the service would focus on fortifying risk management tools to minimize leakages and curtail activities of non compliant traders among other things.
“We understand the important role of technology in this endeavor, that is why our focus is on actualizing full automation in the concession agreement.
“The agreement is vetted by Infrastructure Concession Regulation Commission (ICRC) and signed with Trade Modernization Nigeria Limited and our technical partners Huawei Technologies Limited,” he said.
Bomodi said the agreement would transform operations of the service by taking it to the same level with leading customs administrations.
From Hassan Taiye
The Federal Government of Nigeria, FGN, through the Ministry of Steel Development, has signed a Joint Strategic Cooperation Declaration with Stellar Steel Company Limited.
Stellar Steel Company Limited is a steel-manufacturing enterprise established to operate in Nigeria, with major investment backing from Chinese parent groups: Galaxy Group and RSIN Group based in Fuzhou, Fujian Province, China.
The company has committed approximately US$450 million for a steel plant project in Ogun State, Nigeria, scheduled to begin operations by mid-2026.
This landmark partnership is aimed at revitalising Nigeria’s steel industry and reducing the nation’s dependence on imported steel products, according to a statement signed by the the Principal Information Officer, PIO, Ijomah Opia, for the director, Information and Public Relations in the ministry.
The agreement, signed in Abuja, on Tuesday 28th October, 2025 will see Stellar Steel invest $400 million in the construction of a modern Steel Plant in Ewekoro, Ogun State. The project will be developed in three phases, with the first phase expected to begin production by 2026.
The Minister of Steel Development Prince Shuaibu Abubakar Audu signed the agreement when he hosted Mr Li, President of Inner Galaxy Group and other members of the Stellar Steel Company Limited in the Ministry’s Headquarters in Abuja.
According to Prince Audu, the collaboration aligns with the federal government’s goal of achieving 10 million tonnes of crude steel production per annum by 2030, a major step toward industrial self-reliance and economic diversification.
The minister further stated that the Federal Ministry of Steel Development would facilitate policy and infrastructure support, including inclusion of Stellar Steel’s logistics projects in the National Infrastructure Plan and access to available fiscal incentives.
Highlights of the cooperation includes the followings:
1.Development of a localised iron ore supply chain to reduce import dependence and save over $1 billion in foreign exchange annually.
- Creation of more than 2,000 direct and 20,000 indirect jobs across the steel value chain.
- Promotion of green steel production using clean and energy-efficient technologies.
- Strengthening of Nigeria’s position as a regional steel manufacturing hub in West Africa.
Audi also said that in return, Stellar Steel would prioritise local recruitment and training, partnering with Nigerian universities to build technical and managerial expertise in steel production.
Prince Shuaibu emphasised that this strategic cooperation marks a new era for Nigeria’s steel industry and demonstrates the government’s commitment to sustainable industrial growth and economic transformation.
In his remarks the leader of the delegation, Mr Li assured the minister that Stellar Steel would respect all agreements reached and would ensure the completion of the project in record time and assured that all safety standards will be observed.
Mr Li was accompanied during the visit by Mr You Xiastian, Vice Chairman of RSIN Group, Mr Jackie Den, Vice President of Inner Galaxy Group and Mr Yin, Director of RSIN Group.
He recalled that the Minister of Steel Development, Prince Audu, performed the groundbreaking ceremony of the Steel Plant in Ogun State sometime in April, 2025.
Speaking at the signing, representatives of both parties emphasised that the partnership would strengthen Nigeria’s industrial base, create jobs, and foster technology transfer in the sector.
From Hassan Taiye
A high-level delegation from the European Union (EU) Parliament’s Foreign Affairs Committee, led by Mr. David McAllister, paid a courtesy visit to the Nigerian Senate today October 28, 2025.
“We are here to deepen our understanding of the situation in West Africa and strengthen our partnership with Nigeria,” McAllister said.
Senate President Godswill Akpabio welcomed the delegation, emphasizing Nigeria’s strategic partnership with the EU. “Nigeria is committed to strengthening ties with the EU, highlighting areas of mutual interest, including security, trade, and governance,” Akpabio said.
The delegation, comprising Ambassador Greta Mylott, EU Ambassador to Nigeria and ECOWAS, Miss Zelaya Zorko, Miss Mata Tamido, Sebastian Tankman, General Christophe Gomart, and Sebastian Buharo, is undertaking a comprehensive tour of West Africa, with stops in Nigeria and Ghana.
During the visit, Akpabio shed light on the challenges facing female representation in Nigeria’s parliament. “Women often vote for male candidates, making it difficult for female candidates to win elections,” he noted.
“The Senate is exploring innovative solutions, including constitutional amendments, to boost female participation in the legislative process, with support from organizations like the Black Women’s Forum.”
The EU delegation’s visit aims to foster greater understanding and cooperation between the EU and Nigeria, addressing shared concerns, such as terrorism, climate change, and economic development.
“The EU is committed to supporting Nigeria’s development efforts,” McAllister assured the Senate, emphasizing the bloc’s interest in seeing a stable, prosperous, and democratic Nigeria.
Their visit also includes participation in the forthcoming International Islamic Conference on Security and Governance in West Africa and the Sahel, scheduled for November 4-6, 2025 at ECOWAS Commission.
Akpabio expressed optimism about the potential for enhanced cooperation, highlighting Nigeria’s readiness to work with the EU to address common challenges.
By: Fabian Apechihin
Agricultural stakeholders have raised alarm that Nigeria may be unable to rein in rising food inflation in the coming months due to mounting challenges facing the sector.
Speaking on the issue, a leading agronomist, Emiju, identified the high cost of farm inputs and scarcity of labour as key factors discouraging farmers, warning that these constraints could have serious implications for national food production and availability.
He advised farmers to adopt cooperative savings models or microfinance options to access funding for large-scale input purchases. According to him, such collaborative financial strategies would help smallholders cope with the escalating costs of seeds, fertilizers, and machinery.
Emiju further encouraged farmers to seek bulk purchasing arrangements, explore discount opportunities, and consider alternative, cost-effective inputs where possible. He also urged them to organise community labour-sharing initiatives and invest in mechanisation to cushion the impact of labour shortages and rising production costs.
Highlighting the importance of accurate data in addressing the crisis, he noted that robust agricultural data remains one of the most essential tools for evidence-based planning, monitoring, and policy formulation in Nigeria’s agricultural sector.
“It provides a realistic picture of production outcomes, farmer experiences, and sectoral constraints, upon which informed decisions and targeted interventions can be built,” he said.
He commended recent efforts to improve agricultural data quality, including the Farm Family Census, the Tractor Census, and complementary studies on commodity prices, describing them as steps toward greater transparency and excellence in agricultural performance reporting.
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