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Customs

Hike in duty exchange rate threatens Customs’ N5.1 trillion revenue target, as agents lament impact on import business

The Eyewitness Reporter 

The latest hike in the Customs duty exchange rate by the Central Bank of Nigeria (CBN) has thrown the freight forwarding business into disarray as the practitioners are presently reeling under the heavy impact of the increase.

It would be recalled that the trading public woke up Friday, February 2nd, 2024 to the shocking news that the CBN, once again and for the umpteenth time, has jerked up the Customs duty exchange rate from N951.941 to N1, 356.888 per dollar.

The announcement, which came like a bolt out of the blue, jolted the trading public, especially the customs brokers and importers, who were still smarting from the last increase done shortly before last Christmas.

The latest hike has thrown the customs brokers into a pensive mood as they watch the gradual decline in their business.

“This is one hike too many ” a notable Customs broker who ply his trade in Apapa port but craved for anonymity, lamented.

“It is now clear that this government is determined to ruin and run us out of business.

“When we are yet to get over the effect of the last hike in December, coming with this new one barely one month after, is a killer punch” he declared with a tinge of pain in his voice.

“Who could afford to pay between N10 million to N14 million customs duty on 40 footer container as a result of the latest hike?” he asked rhetorically.

” Even, if you manage to pay, the consumers will bear the brunt as the importers will automatically pass on the buck” he noted.

Prince Ozo Chukwurah, the Vice Chairman, the Board of Trustees of the Association of Nigerian Licensed Customs Agents (ANLCA), aligned with the position of the anonymous respondent.

“As of October 2023, the duty rate on 40 footer container was in the region of N5 million. We were then trying to cope with that.
“Now, you will need more than N9 million to clear the same container with the latest increase and the exchange rate will continue to go up” the ANLCA chieftain lamented.
Alhaji Tanko Ibrahim, the Coordinator of the 100 percent compliance team of the National Association of Government Approved Freight Forwarders(NAGAFF) spoke with similar pain in his voice.
” Even if you import shit( faeces) in a 40-foot container, you will pay nothing less than N10 million as customs duty as a result of this latest increase. For others, you could pay between N12 million to N15 million” he stated.
” But I bet you, all these will go back to the masses because the importer will get his money back while the masses, the final consumers, will bear the brunt.” Alhaji Ibrahim said.
He expressed anger at the insensitivity of the CBN whom he accused of raising the exchange rate for customs duty at the drop of the hat.
” My anger is that anytime the exchange rate rises in the forex market, the CBN will quickly raise the rate for Customs duty but will not bring it down when there is a fall in the exchange rate in the foreign exchange market” he lamented.
He disclosed that there is a massive hunger in the land.
” It is even fair in Lagos because of its status as the commercial capital of the country but go to other towns and cities, especially in the rural areas where people are suffering. “
” Could you imagine that a bag of beans in the North where it is produced is now about N80,000?
“How much will it sell in Lagos when it gets there” he asked rhetorically.
However, all the respondents believe that the rising exchange rate for duty will affect the realisation of the N5.1 trillion revenue target of the customs.
They said the situation will lead to a drastic drop in importation as many importers will either abandon their cargo at the ports for those whose consignments are caught in the web of the latest hike or refuse to bring in goods due to the increase.
“There will be less importation because of the scarcity of dollars and the hike in the exchange rate for customs duty.
“This will have a negative impact on the revenue target of customs”
” Even if they manage to collect it, the amount will be worthless in the face of the rising inflation in the country. It won’t have much impact on the economy” Chukwurah noted.
Alhaji Tanko Ibrahim said importers will cease importation to study the situation because the foreign exchange market is volatile and highly unpredictable.
” This rate will keep rising. I heard that in a little while, the CBN will still increase the customs duty exchange rate to N1,500 per dollar based on its penchant to respond to the increase in the forex market” he claimed.
The respondents were therefore unanimous in their views that it would be an uphill task for the customs to meet its revenue target this year due to the harsh operating environment at the Ports
” Revenue targets are proposals and the Customs don’t have to kill themselves and the clearing agents in their efforts to meet them,” Prince Chukwurah said.
” I am very sure the Customs officers too don’t like what is happening because they too are Nigerians who are not immune against the hardship in the country.
” We all go to the same markets” Alhaji Ibrahim, the NAGAFF chieftain observed.
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Customs

Beer merchants panic over tax stamp policy, seeks solace from Customs

Gloria Odion, Maritime reporter 
The proposed Tax Stamp policy of the Federal government has expectedly activated panic mode among beer industry leaders who have expressed anxiety of possible escalation in the production and consumer costs if the policy is eventually implemented.
Though, there is an ongoing dialogue between stakeholders and the government to manage the economic impact of the policy, the leaders of the brewing sector had sought more clarification on the policy from the Nigeria customs service when they engaged with the Comptroller- General of the Service, Adewale Adeniyi on Monday, May 11th, 2026.
The brewers have come to discuss the economic impact the proposed policy will have on their brewing business.
At the roundabout discussion, Adewale had emphasised the need for credible data, inclusive consultations and sustained stakeholder engagement in Nigeria’s ongoing fiscal and regulatory reforms.
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‎Speaking during the engagement, CGC Adeniyi stressed that policy decisions affecting strategic sectors of the economy must be guided by verifiable data and a clear understanding of prevailing market realities.
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“‎We need to have a clear understanding of what constitutes illicit trade. Some of these products are legitimately manufactured in Nigeria.
“In other jurisdictions,customs administrations are already engaging in discussions around how such products find their way across borders and into unauthorised markets” the CGC stated.
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‎He further underscored the importance of accuracy and credibility in industry data presented to policymakers, noting that sound policy formulation depends on reliable information.
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‎“One thing we need to understand more clearly is where some of these estimates came from.
“When we are making policy decisions of this nature, the credibility and accuracy of data must never be in doubt,” he added.
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‎Highlighting the Service’s ongoing modernisation efforts, Adeniyi noted that the NCS has continued to introduce reforms aimed at improving trade facilitation and enhancing operational efficiency across the supply chain.
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‎“We have consistently introduced initiatives aimed at facilitating trade. We introduced the Advance Ruling. We introduced the Authorised Economic Operator programme.
“We also rolled out several reforms on our own initiative, not because we were under pressure, but because we recognised the need to improve trade facilitation,” he said.
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‎On the proposed tax stamp initiative, the CGC clarified that consultations with stakeholders are still ongoing and that no final decision has been reached regarding implementation.
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‎“As far as I am concerned, consultations are still ongoing. If this initiative is legitimate and beneficial, then we all have a responsibility to ensure that we are heading in the right direction,” he stated.
‎He also encouraged private-sector operators to maintain constructive engagement with relevant government agencies to ensure that any eventual policy framework balances revenue protection with industrial sustainability and economic growth.
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‎Earlier, the leader of the delegation and Chief Executive Officer of Guinness Nigeria Plc, Girish Sharma, said the visit was aimed at presenting the industry’s position on the proposed tax stamp framework, which he noted has generated considerable discussion within the sector.
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‎Sharma acknowledged the importance of regulatory controls but maintained that the beer industry remains one of the most structured and highly regulated sectors in Nigeria, with limited exposure to counterfeiting risks.
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‎“We fully understand the purpose and importance of tax stamps, particularly in industries where counterfeiting is a major concern.
“However, within the beer sector, counterfeiting is minimal,” Sharma said.
‎He noted that existing compliance and monitoring systems already provide adequate visibility across production and distribution channels.
‎“From an end-to-end compliance perspective, we believe there is already sufficient transparency and oversight,” he added.
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‎Sharma also highlighted the industry’s contribution to employment generation, government revenue and economic growth, cautioning that additional regulatory measures should be carefully designed to avoid unintended impacts on the sector and the wider economy.
The 2026 tax stamp policy in Nigeria is a regulatory, security-focused, and mandatory track-and-trace system imposed by the government on excisable goods—including alcohol, tobacco, and sugar-sweetened beverages—to curb illicit trade and bolster revenue.
The policy, aimed at reducing smuggling and counterfeiting, requires high-security physical labels or digital codes to be affixed to products.
The policy applies to excisable products such as tobacco, alcohol, and sugary drinks, with specialized stamps for textile imports, such as the Red vs. Green stamps.
 Manufacturers must ensure compliance. Under the Nigeria Tax Act 2025, compliance is required, and failure to stamp documents within 30 days can lead to severe penalties, including a 10% penalty fee plus interest.
While the government aims to enhance revenue, manufacturers, particularly in the brewing sector, have raised concerns that the policy could significantly diminish profitability and increase consumer prices, with potential to create 100% loss in profits if implemented as proposed.
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Customs

At UNILORIN conference, Adeniyi advocates for human- driven technology for balanced developmental efforts

Gloria Odion, Maritime reporter 
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‎The Comptroller-General of Customs (CGC), Adewale Adeniyi, has reaffirmed the Nigeria Customs Service’s commitment to responsible digital transformation and innovation driven governance during his keynote address at the 4th Biennial International Conference organised by the Faculty of Communication and Information Sciences, University of Ilorin, in collaboration with the Faculty of Philology, RUDN University, Russia.
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‎The conference, themed “Disruptive Technology: Human and Artificial Intelligence in the Digital Economy,” was held on Wednesday, 13 May 2026, at the University of Ilorin Main Auditorium.
The event attracted academics, communication experts, technology professionals, researchers, policymakers, and heads of government agencies to deliberate on the growing influence of digital innovation and artificial intelligence on governance, education, trade, and economic development.
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‎In his address, CGC Adeniyi stressed the importance of balancing technological advancement with human responsibility, noting that the future of the digital economy depends not only on artificial intelligence but also on ethics, leadership, and institutional capacity.
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‎“The digital age is, in the end, a human story, and the real test of our generation is not how powerful our machines become, but how wisely our societies choose to use them,” Adeniyi stated.
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‎He observed that disruptive technologies such as digital payments, e-commerce, artificial intelligence, and smart systems have already reshaped global operations, adding that the world is no longer preparing for disruption but actively functioning within it.
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‎According to him, government institutions must ensure that technological innovation strengthens transparency, public trust, and operational efficiency without compromising accountability.
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‎Drawing from the Nigeria Customs Service’s experience, the CGC highlighted ongoing digital transformation initiatives, particularly the deployment of the B’Odogwu Unified Customs Management System, which has significantly improved trade facilitation, cargo processing, and inter-agency collaboration.
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‎He disclosed that the platform generated over N230 billion at the PTML Command within its first eight months of deployment, while cargo clearance timelines for compliant traders have been reduced to less than eight hours.
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‎“The partnership, not the rivalry, between human and artificial intelligence is where the real value lies,” he said, adding that technology delivers optimal results when guided by strong institutional values and ethical standards.
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‎Adeniyi further noted that although artificial intelligence enhances efficiency, risk management, and decision-making, human expertise and leadership remain indispensable to effective governance and enforcement.
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‎“Technology changes processes  leadership and expertise still deliver the results,” he added.
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‎The CGC also called for stronger collaboration among universities, research institutions, and public agencies to develop practical solutions to emerging digital and governance challenges.
He urged academic institutions to move beyond theoretical learning and play a more active role in innovation and policy development.
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‎He identified areas where academia can support Customs modernisation efforts, including digital compliance systems, AI-driven risk management, public trust communication strategies, and the governance of cross border data flows.
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‎Adeniyi further advocated for the development of digital governance frameworks tailored to African realities, legal systems, and developmental priorities, emphasising that technological advancement must remain accountable to the people it serves.
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‎On the sidelines of the conference,the CGC engaged with heads of government agencies, scholars, communication professionals, traditional rulers, and institutional leaders on opportunities for collaboration in digital innovation, research, community development, and capacity building.
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Customs

Oshoba, Apapa Customs boss, charges officers on discipline, revenue, trade facilitation

Gloria Odion, Maritime reporter 

The Customs Area Controller (CAC), Nigeria Customs Service, Apapa Area Command, Comptroller Emmanuel Oshoba, has charged officers and men of the Command to intensify revenue generation, strengthen anti-smuggling operations and uphold professionalism and discipline in the discharge of their duties.

Comptroller Oshoba gave the charge during the Command’s monthly parade held on Tuesday, 12 May 2026, at the Command headquarters in Apapa, Lagos.

The Area Controller emphasized the need for greater operational interventions across terminals to block revenue leakages while ensuring seamless trade facilitation and timely cargo clearance.

“Officers must protect the reputation of the Service. That is why any delay by any officer concerning any consignment will not be tolerated.

“Even at the gates. If a consignment is duly exited, there should be no delay at the gates,” he stated.

He also urged officers to remain accessible and professional in their dealings with stakeholders.

“You must make yourself accessible to our stakeholders and we must avoid actions capable of tarnishing the good image of the Service and the good work being done by the CGC and members of his management.

“We should not be seen as slugs in the wheels of progress,” Oshoba added.

The CAC further called for heightened vigilance against smuggling activities, especially illicit drugs and prohibited items, while warning officers against misconduct and improper dressing.

Highlight of the parade was the recognition of outstanding Officers and Units for exemplary service.

Assistant Comptroller of Customs Ismail Mohammed emerged as the Most Outstanding Officer of the Month, while CSC Augustine Ondoma, ASCI Bukola Olaleye and IC Olalekan Salawu were recognized for professionalism, innovation and punctuality respectively.

Similarly, officers of APM Terminal received the Excellence Award on Enforcement, while Officers of ECO SUPPORT Terminal received the Excellence Award on Revenue Generation.

Comptroller Oshoba explained that the award initiative was introduced to encourage hard work, excellence, professionalism and healthy competition among Officers and Units of the Command.

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