Senate Greenlights NCS 2024 Budget and Revenue Target
- Katsina City News
- 18 Feb, 2024
- 677
Katsina Times
The Nigerian Senate has approved a N5.079 trillion revenue target and a N706.4 billion budget for the Nigeria Customs Service in the 2024 fiscal year. The approval comes after a report presentation by Committee Chairman Jibrin Isah, highlighting key budget allocations and strategies for revenue generation.
Isah emphasized the importance of timely implementation of fiscal policies, including measures to curb illegal imports, enhance revenue recovery, and improve anti-smuggling efforts through collaboration with relevant government agencies.
The revised penalties and charges in the new Nigeria Customs Service Act, 2023 are expected to bolster revenue generation, while operational guides will be utilized to combat illicit activities within the confines of Customs law.
The approved budget reflects a comprehensive approach aimed at optimizing revenue collection and ensuring efficient port operations for increased financial returns.
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