
Much Ado About the N12trn Customs 2025 Target. By Asu Beks.
Nigerians were jolted early in the year by a N12trn Target slammed at the Nigeria Customs Service by the National Assembly Joint Committee on Finance. Smarting from an impressive N5.07tr target in 2024 which it surpassed by over 20 per cent, the Service was given N6.5tr as its target for 2025. But during the budget defence session in January, the Joint Committee on Appropriation, in its wisdom raised the figure by almost 100 per cent. The Committee claimed that available data from the budget office indicated a huge potential that a N12trn annual target in 2025 was achievable. This position drew criticism from experts and the organised private sector. Experts have expressed concern that the N12trn target could impact negatively on the trade environment.
The contention is that increased ...