Senate approves N11.07trn NCS 2026 budget, praises record revenue performance
The Senate on Wednesday approved the Nigeria Customs Service’s 2026 budget, endorsing a revenue target of ₦11.074 trillion and total expenditure of ₦1.295 trillion for the fiscal year. The approval followed the report of the Senate Committee on Customs, Excise and Tariffs, chaired by Senator Isah Jibrin (APC‑Kogi), which noted that the Service surpassed its 2025 revenue goal of ₦6.5 trillion by collecting about ₦7.2 trillion – a 110.53 % performance. Despite approving a ₦1.132 trillion budget for 2025, actual spending stood at ₦591 billion, with delays in procurement approvals cited as the reason for the underspend. For 2026, the budget allocates ₦421 billion to personnel, ₦307 billion to overheads and ₦565 billion to capital projects, funded mainly by the statutory 4 % FOB levy under the Nigerian Customs Service Act, 2023. Deputy Senate President Jibrin Barau and Senate President Godswill Akpabio praised the agency’s fiscal discipline and revenue performance, linking it to confidence in ongoing reforms. The approved budget is expected to boost federal government revenue and shape customs policy for the coming year.