NEWS
NCS Hits N3.21trn In 2023, Eyes N5.08trn In 2024
In a briefing to the House of Representatives Committee on Customs and Excise, Comptroller General Bashir Adeniyi disclosed that the Nigeria Customs Service (NCS) successfully generated a total of N3.21 trillion in revenue for the year 2023.
Despite facing challenges that led to falling short of the targeted N3.67 trillion, Adeniyi expressed confidence as he outlined the service’s ambitious goal to diligently contribute N5.08 trillion to the nation’s revenue in 2024.
He said, “In 2023, the revenue target for the service was N3.67trn and remarkably, the service collected a total revenue of N3.21trn from January to December 2023.
“When we compare what we collected in 2023 to what was projected as our targets, there was a negative variance of N462.9 bn, which represents 12.62 per cent of what was approved as revenue targets.
“Though we didn’t achieve what we projected, but we want to say with all sense of modesty that we did our best. And when we consider all factors, we will appreciate the fact that we at NCS did the best we could.”
Adeniyi cited several factors, including the import of goods under the common external tariff, import duty exemption certificates, uncertainties, and anxieties as key contributors to the NCS falling short of its 2023 revenue target.
“One of the factors was the huge import of goods under Chapter 99 of the common external tariff, which resulted in a revenue loss of over N2trn. When we compare this to the total revenue that we had, that was a whopping 63.35 per cent of our total revenue collection.
“Also, revenue due to import duty exemption certificates and other statutory provisions for the year (2023) was also in the region of N1.8 trn which was about 58.52 per cent of the total revenue generated. Cargo through-put dropped from 17.2 per cent to 15 2 per cent during the year.
“For 2024 fiscal year, this target stands at 5.079 trillion and this consists of 3.423 trn in federation accounts, N554.35 bn for non-federation accounts, and N1.101 trn for import Value Added Tax,” he added, noting that “When we compare what was targeted in 2023 and 2024, this year’s target is higher by N1.41 trn or approximately 27.75 per cent over the 2023 budget,” he added.
The NCS boss outlined crucial assumptions to aid the service in achieving its 2024 financial targets. He emphasized the importance of timely roll-out of the 2024 fiscal policy measures and highlighted the pursuit of the national single window project for enhanced process harmonization and standardization.
The approval for the inauguration of the steering committee by Mr. President signals progress in this pursuit, with expectations that the committee will be inaugurated in the coming days.
Adeniyi highlighted the significance of the Vehicle Registration System and the Vehicle Identification Number valuation application as the third driver to combat undervaluation and vehicle tax evasion, aiming to enhance revenue collection for the NCS.
Additionally, he informed the committee about the NCS’s proposed budget expenditure of N706.43 billion in the 2024 fiscal year.
Adeniyi detailed the funding plan, indicating that N623.83 billion is expected from the 4% Free On Board, N22.02 billion from a 2% VAT share for NCS, and N60.58 billion from funds rolled over from ongoing capital projects, totaling the proposed budget.
Committee Chairman Leke Abejide assured the NCS of the lawmakers’ commitment to support its efforts in achieving the national revenue target.
He urged the NCS boss to prioritize the implementation of e-customs and integrate Artificial Intelligence in managing the nation’s border stations for enhanced efficiency and effectiveness.
NEWS
Fake Certificates: FG, NYSC Unveil Digital Plan to Block Fraudsters
The Federal Government and the National Youth Service Corps have intensified efforts to tackle certificate racketeering and strengthen the verification of academic qualifications through digital integration.
The Minister of Education, Dr Tunji Alausa, disclosed this on Tuesday in Abuja when the NYSC Director-General, Brig Gen Olakunle Nafiu, led a delegation to the ministry.
Alausa said the initiative was part of the Federal Government’s ongoing digital transformation of the education sector under President Bola Tinubu’s Renewed Hope Agenda.
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According to him, the reforms are designed to close loopholes in the management of academic records, combat certificate fraud and ensure that genuine graduates are not denied opportunities because of verification challenges.
The minister said the Nigerian Education Repository Data Bank was already collecting and verifying university certificates, tracking learners across the education system and supporting tertiary institutions through help-desk officers.
He added that the Nigerian Education Data Infrastructure would link records across different stages of a learner’s educational journey.
Alausa also revealed that discussions were ongoing with the NYSC on an application programming interface that would allow faster verification and seamless exchange of relevant data between the two institutions.
He said the system would help address issues affecting qualified graduates, including discrepancies in names, challenges involving graduates of part-time National Diploma programmes and the admission of National Certificate in Education holders into Higher National Diploma programmes.
The minister said the government would collaborate with the National Board for Technical Education, Joint Admissions and Matriculation Board, National Identity Management Commission and other stakeholders to develop lasting solutions.
Among the proposed measures is the introduction of a national Learner Identification Number and a uniform framework for recording and sequencing names across government education and identity databases.
Alausa said this would ensure that accurate identity records were established from the beginning of a learner’s educational journey, thereby reducing discrepancies that could create problems for graduates later.
The move comes amid increased government efforts to authenticate academic credentials used for employment and NYSC mobilisation.
On his part, the NYSC Director-General, Nafiu, commended the ministry’s digital reforms and pledged the Corps’ continued support.
He said NYSC had pursued digitalisation since 2014 and developed systems to provide reliable information on Corps members and their deployment.
Nafiu added that the Corps had complied with the Federal Executive Council’s directive on collaboration with the Nigerian Education Repository Data Bank and was ready to deepen its partnership with the ministry.
He further noted that the introduction of QR codes had “virtually eliminated document cloning” within the NYSC.
NEWS
Petrol Imports Surge 989% to N952bn Amid Dangote, Importers Feud
Nigeria spent N952.15bn on imported Premium Motor Spirit, popularly known as petrol, in the second quarter of 2026, representing a staggering 989.4 per cent increase from the N87.40bn recorded in the first quarter.
The latest figures contained in the National Bureau of Statistics’ foreign trade report showed that petrol accounted for 6.60 per cent of Nigeria’s total imports of N14.42tn during the quarter, making it the country’s largest imported commodity.
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Despite the sharp quarterly increase, the value of petrol imports declined significantly year-on-year, falling from N2.83tn in the second quarter of 2025 to N952.15bn in Q2 2026, representing a 66.4 per cent reduction.
The surge in petrol imports came amid an ongoing dispute between the Dangote Petroleum Refinery and fuel importers and marketers over the continued importation of petrol despite rising domestic production.
The Dangote refinery had reportedly considered stopping petrol sales to major marketers that continue to import the product, citing concerns over the quality of imported petrol and the possibility of imported fuel being blended with its products.
Dangote also raised concerns over the lack of sufficient independent laboratory and quality-control infrastructure to verify the quality of imported petrol.
The refinery said imported petrol accounted for about 43 per cent of fuel supplied into the Nigerian market in July, adding that the issuance of import licences made it difficult to accurately plan production and inventory.
It said excess stock could eventually be exported if the situation continued.
However, fuel importers and marketers rejected the position, describing the move as an attempt to restrict imports. They challenged Dangote to provide evidence that imported petrol failed to meet Nigeria’s required quality standards.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that average daily petrol imports fell from 11.23 million litres in Q1 to 9.23 million litres in Q2, representing a 17.8 per cent decline.
However, imports increased sharply in June, reaching 18.1 million litres per day compared with 3.7 million litres per day in April.
At the same time, domestic petrol supply increased, with domestic refineries supplying 38.23 million litres per day in Q2, up from 34.57 million litres per day in Q1, representing a 10.6 per cent increase.
Consequently, the share of domestic refineries in Nigeria’s petrol supply rose from 75.5 per cent in Q1 to 80.5 per cent in Q2, while the import share dropped from 24.5 per cent to 19.5 per cent.
Industry data also indicated that imported petrol was more expensive than Dangote’s locally refined product.
According to the Major Energy Marketers Association of Nigeria, Dangote’s gantry price stood at N1,265 per litre, compared with an import-parity price of N1,310.64 per litre under the approved pricing benchmark.
This meant imported petrol was about N45.64 per litre more expensive.
The Independent Petroleum Marketers Association of Nigeria subsequently called on the Federal Government to halt petrol imports, arguing that import licences were resulting in higher prices and undermining domestic refineries.
Meanwhile, Nigeria exported N546.02bn worth of petrol in Q2 2026, up 20.67 per cent from N452.48bn in Q1.
Of the Q2 petrol exports, N416.78bn went to African markets, while N376.46bn was exported to West African countries.
Despite the increase in exports, Nigeria remained a net importer of petrol by value during the quarter, importing N952.15bn worth of the product against exports valued at N546.02bn—a difference of N406.12bn.
The higher import bill was also linked partly to international market conditions, as the period coincided with disruptions to global oil supplies and rising international fuel prices.
NEWS
Abuja Building Collapses Hours After FCTA Sealing
A building has collapsed in Wuse Zone 4, Abuja, just hours after the Development Control Department of the Federal Capital Territory Administration (FCTA) sealed the structure and directed occupants to vacate the premises.
The building reportedly collapsed at about 8pm on Monday, September 7, 2026, prompting an emergency response as personnel of the Federal Fire Service and other responders moved to the scene.
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Three ambulances were stationed at the location as rescue teams worked to determine whether anyone was trapped beneath the rubble and to evacuate any possible casualties.
The FCTA’s Development Control Department had earlier sealed the building and ordered occupants to leave the premises before the collapse.
The cause of the collapse remained unclear as of the time of the report, while rescue operations were still ongoing.
The incident has renewed concerns over the safety of ageing and distressed buildings in Abuja, particularly structures that have previously been flagged by regulatory authorities.
Further details on possible casualties and the circumstances surrounding the collapse are expected as emergency operations continue.





