Abdullahi Dikko, Former Comptroller-General Of The Nigeria Customs Service (NCS). Photo Credit: X
The Nigeria Customs Service (NCS) recently announced a record revenue of ₦1.3 trillion in the first quarter of 2025, more than double the ₦600 billion collected in the same period in 2023.
Comptroller-General Bashir Adewale Adeniyi credited this growth to reforms under President Bola Tinubu’s administration
However, Umar Sani, spokesperson for the Peoples Democratic Party’s 2019 presidential campaign, challenged the significance of this figure.
In a post on his official X (formerly Twitter) page, he pointed out that when Dikko Inde Abdullahi led the NCS, the service recorded ₦977 billion in 2014.
“When Dikko Inde Abdullahi led the NCS from 2009 to 2015, he recorded ₦977 billion in 2014, which was then the highest annual customs revenue in Nigerian history,” he wrote.
Crucially, the naira-dollar exchange rate then was ₦172 to $1, making Dikko’s collection equivalent to about $5.68 billion.
In contrast, the ₦1.3 trillion collected in Q1 2025, at an exchange rate of ₦1,400 to $1, translates to roughly $928 million.
This indicates that in real dollar terms, the recent revenue is much lower than that achieved under Dikko’s tenure.
Sani argued that the current revenue increase is largely due to the naira’s depreciation rather than growth in trade volume or operational efficiency.
Import volumes have reportedly declined due to foreign exchange scarcity and economic contraction.
He also highlighted the reforms during Dikko’s leadership, such as the shift to an indigenously managed Destination Inspection regime and the introduction of the Pre-Arrival Assessment Report (PAAR) system, which improved customs operations in a stable economic environment with a stronger naira.
He concluded that the ₦1.3 trillion figure, while impressive on paper, is misleading without adjusting for inflation and exchange rate effects, and is being used to bolster the current administration’s reform narrative amid economic challenges.
Adjusted for today’s exchange rate, Dikko’s 2014 revenue would be over ₦7.95 trillion, far surpassing current figures in real terms.
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