…Adeniyi cites Middle East tensions, supply chain disruptions for revenue shortfall
…exceeds 2025 target by N674bn, seeks N1.235tn spending plan
The Senate Committee on Customs and Excise on Monday approved the Nigeria Customs Service’s (NCS) proposed N11.074 trillion revenue target and N1.235 trillion expenditure estimate for the 2026 fiscal year, following the agency’s acknowledgement that geopolitical tensions and disruptions to global trade could impact revenue performance.
Defending the 2026 budget before the committee at the National Assembly, Adewale Adeniyi, the Comptroller-General of Customs, said the Service was projecting higher revenue despite a difficult international trading environment marked by supply chain disruptions and reduced cargo traffic into Nigerian ports.
He disclosed that Customs generated N4.043 trillion in the first half of 2026 against a projected N5.5 trillion, attributing the shortfall largely to the crisis in the Middle East, particularly around the Strait of Hormuz.
He stated, “The major challenge confronting us
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