₦airaland Forum

Nigeria’s Customs and Excise revenue is seeing a staggering upward trajectory, with Q2 2025 hitting a record high of ₦961.14bn. While the numbers are booming, what does this actually mean for the Nigerian economy and the cost of doing business?
Drop your thoughts in the comments, is this a win for the country? 👇

Nigeria's customs and excise revenue (2016-2025)

Q2 2016: N46.09bn

Q2 2017: N139.59bn ⬆️

Q2 2018: N157.62bn ⬆️

Q2 2019: N199.36bn ⬆️

Q2 2020: N195.82bn ⬇️

Q2 2021: N275.81bn ⬆️

Q2 2022: N385.79bn ⬆️

Q2 2023: N326.74bn ⬇️

Q2 2024: N727.12bn ⬆️

Q2 2025: N961.14bn ⬆️

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Source

Good to see that customs revenue is on the rise.

911 million dollars in 2022 is greater than 662.8 million dollars in 2025.

It is important to factor in naira devaluation to know the true value of things.

jmoore:
911 million dollars in 2022 is greater than 662.8 million dollars in 2025.

It is important to factor in naira devaluation to know the true value of things.

Talking about the true value of things, the question should be between 2022 and 2025 Naira value, which is the true value?
It should be the same too for petrol seeing that there was subsidy in 2022 but no longer in 2025.

If the govt say they want to make sure Nigerians buy a 1liter of milk for N100 irrespective of reality of higher prices, which is the true value of the milk, the original price or the subsidized price.

Good trend analysis.

CodeTemplarr:
Talking about the true value of things, the question should be between 2022 and 2025 Naira value, which is the true value?
It should be the same too for petrol seeing that there was subsidy in 2022 but no longer in 2025.

If the govt say they want to make sure Nigerians buy a 1liter of milk for N100 irrespective of reality of higher prices, which is the true value of the milk, the original price or the subsidized price.

Do your own maths and present your own true value.

Don't forget that after Tinubu removed subsidy from exchange rate and floated the naira, it went to 755 naira to a dollar. How much is the exchange rate now? 1,450 naira.

The upward trend is commendable.

Very good

Those who always about the price of goods in 18BN compared to today should also be able to use the statistics for comparative

jmoore:
Do your own maths and present your own true value.

Don't forget that after Tinubu removed subsidy from exchange rate and floated the naira, it went to 755 naira to a dollar. How much is the exchange rate now? 1,450 naira.

Either mischief or you are mistaking petrol subsidy for naira subsidy. As at when it was around 750 a dollar, it wasn't floated yet. It was petrol subsidy removal first, then floating of naira. Even at that, there were multiple rates.

ebukal67x:
The upward trend is commendable.

helinues, what is commendable?

jmoore:
911 million dollars in 2022 is greater than 662.8 million dollars in 2025.

It is important to factor in naira devaluation to know the true value of things.

Do you consider that when talking about the price of goods and services

See, this is not how to play opposition. Una own opposition is too bitter and toxic. How come you guys always sad about any development news about Nigeria

CodeTemplarr:
Either mischief or you are mistaking petrol subsidy for naira subsidy. As at when it was around 750 a dollar, it wasn't floated yet. It was petrol subsidy removal first, then floating of naira. Even at that, there were multiple rates.

It is obvious you have no clue on what you are saying. Use google and make your research.

helinues:
Do you consider that when talking about the price of goods and services

See, this is not how to play opposition. Una own opposition is too bitter and toxic. How come you guys always sad about any development news about Nigeria

Present maths not babablu.

jmoore:
Present maths not babablu.

Use your logic if you have the ability. Would you have written your epistle had the money generated is below the past ones?

jmoore:
It is obvious you have no clue on what you are saying. Use google and make your research.

you are still confusing actual black market rate with floated rate. It rose to around N750 immediately after floating but was effectively being capped by black market rates. It needed time to settle and that was what played out.

Awesome! This is real progress. This is one of the benefits of economic reforms and transparency.

May God bless Nigeria for ever!

CodeTemplarr:
you are still confusing actual black market rate with floated rate. It rose to around N750 immediately after floating but was effectively being capped by black market rates. It needed time to settle and that was what played out.

Go and read Rewane's opinion on naira floatation cos there are still active interventions that costs billions of dollars.

Good.

The more we generate revenue locally, the lesser we would depend on foreign loans

jmoore:
Go and read Rewane's opinion on naira floatation cos there are still active interventions that costs billions of dollars.

You are talking off point now. Even if true that it is being defended or there is intervention to the extent it is distorting the actual price away from demand-supply equilibrium,

CodeTemplarr:
You are talking off point now. Even if true that it is being defended or there is intervention to the extent it is distorting the actual price away from demand-supply equilibrium,

Stop assuming. Tinubu is defending naira, even after floating it.
This perspective eradicates your first comment on this thread.

jmoore:
911 million dollars in 2022 is greater than 662.8 million dollars in 2025.

It is important to factor in naira devaluation to know the true value of things.

Yes you are right but you forgot to factor that imports has also drastically reduced as well so.the devaluation is actually working by ensuring Nigerians look inward for their consumption and outward for their revenue generation.

What this article failed to articulate is the comparison between net imports vs net exports .

I am.sure if this is included you will see that import volume has reduced and exports have increased sharply thereby reducing trade deficit.

Nigeria is now exporting more than it did in years prior than we import that's why the FX reserves are high .

jmoore:
Do your own maths and present your own true value.

Don't forget that after Tinubu removed subsidy from exchange rate and floated the naira, it went to 755 naira to a dollar. How much is the exchange rate now? 1,450 naira.

You should ask who is bidding so high at #1,450 to a dollar.

Great progress.

The reordering of the economy away from import dependence to producing more of what we need is progressing steadily under this government.

Higher import duties are a necessary tool for ensuring that we do not become an economic colony of China.

jmoore:
Stop assuming. Tinubu is defending naira, even after floating it.
This perspective eradicates your first comment on this thread.

Normal sales of dillar is different from defence of naira. Defence of Naira is when it is forced to sell below the equilibrium point of free market demand and supply forces. You are talking what is beyond your mind.

CodeTemplarr:
Normal sales of dillar is different from defence of naira. Defence of Naira is when it is forced to sell below the equilibrium point of free market demand and supply forces. You are talking what is beyond your mind.

You are talking babablu Bulabu.

This is impressive. Increasing revenue year on year means the government is doing something right.

I hope they will find a way to stabilize it and not just rely on oil like before.

Tell us the custom duties and subsequent increases for these years. What magic led to the increased revenue (in Naira)?

Tinubu and buhari increased custom duties and you are here showing it.

Yet we wonder why there’s crazy inflation?

Customs charge exorbitant fees for clearing goods.

CodeTemplarr:
Talking about the true value of things, the question should be between 2022 and 2025 Naira value, which is the true value?
It should be the same too for petrol seeing that there was subsidy in 2022 but no longer in 2025.

If the govt say they want to make sure Nigerians buy a 1liter of milk for N100 irrespective of reality of higher prices, which is the true value of the milk, the original price or the subsidized price.

That is a good question, so tell us how many bags of rice or cement 2022 revenue could buy in 2022 vs how many 2025 revenue can buy now? I guess that will bring it home to folks like us.

Great numbers.
Many people will not believe that Mr Emefiele actually helped significantly in this regard too.
Unfortunately, he soiled his good side with alleged insatiable greed.

It is not, the revenue should be declared with it dollar equivalent yearly for us to know if it is growing or not.

Naira from 800 to a dollar is now 1500 n this revenue are billed in dollars terms so Tinubu government should come clean.

HgAkpobomeEr:
Good to see that customs revenue is on the rise.

All these revenues where is the money going to??