Maritime Agencies
2024: Customs Exceeds 20% Of Annual Revenue Target In 3 Months, Rakes In N1.3trn.
By Izuchukwu Ozoemena
The Nigeria Customs Service (NCS) collected N1.34trillion, January to March, in the face of declining cargo throughput estimated to have dwindled by 4.89 percent in the first quarter of 2024. By this collection, the NCS exceeded her annual revenue target of N5.07Trn by 20 percent.
Comptroller-General of Customs, Bashir Adewale Adeniyi disclosed this in Abuja, Wednesday, while unveiling Custom’s activities in the first quarter, 2024.
Total revenue collected during this period, he stated, amounted to N1,347,675,608,972.75.
“The collection for the first quarter represents a substantial increase of 122.35% compared to the same period last year, which was N606,119,935,146.67. Month-by-month analysis further illustrates the Service’s impressive growth trajectory.”
“In January 2024, revenue collection surged by 95.60%, reaching N390,824,148,326.55 from N199,809,974,327.52 recorded in January 2023. This upward trend continued in February 2024, with a staggering 138.68% growth, elevating revenue collection to N450,209,267,557.15 from N188,625,011,386.87 in February 2023. By March 2024, the revenue collected by NCS revenue grew by 132.76% from N217,669,949,432.28 to N506,642,193,019.05.”
When compared to the Custom’s 2024 annual revenue target of N5.07 trillion which translates to N423 billion monthly, the Service is recording an average monthly revenue growth of 6.2% over the set monthly target and a cumulative revenue collection of 18.6%, equivalent to N78,675,608,972.75 over the set quarterly target of N1.269 trillion.
The Customs boss, however, observed that there have been challenges related to non-compliance with regulations, infrastructure limitations, and a notable decline in cargo throughput, evidenced by a 4.89% decrease in the volume of transactions handled.
Significant fluctuations in exchange rates applied in the customs clearance of consignments posed considerable difficulties, he admitted.
“As per protocol, the exchange rate utilized by Customs in the clearance of goods via the Nigeria Integrated Customs Information System (NICIS) is based on the rate determined by the Central Bank of Nigeria (CBN).
“In the last quarter, a total of 28 rates were directed by the CBN, ranging from N951.94 per USD 1 in January 2024 to a peak of N1,662.35 per USD 1 in February 2024.”
“While a singular exchange rate of N951.94 per USD 1 was maintained in January, February witnessed 15 different spot rates ranging from N951.94 per USD 1 to N1,662.35 per USD 1. March saw a total of 13 different spot rates applied, ranging from N1,303.84 to N1,630.16. These fluctuations resulted in an average applied exchange rate of N1,314.03 per USD 1 in the clearance of Customs goods during the quarter,” the CGC observed.
First quarter of 2024, he explained, NCS recorded a total of 572 seizures, made up of assorted various items valued at N10,593,099,654.50 in Duty Paid Value (DPV).
“Notably, January saw 111 seizures amounting to N842,992,751.50 in DPV, while February marked the highest seizure numbers of 432, totalling N3,704,703,350.34. Rice constituted 39% of the seizures, followed by petroleum products at 26%, with motor vehicles and textiles accounting for 9% and 6% of the seizures, respectively. During this period, the NCS detained 22 suspects, and appropriate legal measures will be taken in accordance with the Nigeria Customs Service Act 2023,” he said.
As expected, he announced, trade facilitation remains a central focus of the NCS operations. In the period under review, the Service went a notch to streamline processes, minimize bottlenecks and optimize efficiency across Nigerian ports to ensure seamless trade transactions.
In the period January to March, 2024, the Service processed a total of 311,492 Single Goods Declarations (SGDs) for imports, reflecting the volume of import transactions handled.
“This figure indicates a decrease compared to the total volume of 327,491 processed in 2023 and 403,233 SGDs in 2022.”
“Regarding export transactions, a total of 10,786 SGDs were processed in 2024 compared to 9,752 transactions in 2023, representing a 10.60% growth in export activities. Notably, a significant portion of this growth occurred in January, with 4,067 transactions processed in 2024 compared to 3,352 SGDs in 2023, marking a 29.69% increase,” he explained.
Regarding non-oil exports, CGC Adeniyi stressed that the Service remains particularly interested in the growth in this area, in line with the policy thrust and priorities of President Bola Ahmed Tinubu’s administration and the initiatives pursued by NCS in recent times.
Maritime Agencies
Nigeria Canvasses Regional Co-operation, Investment Drive at Liberia Fisheries Summit.
By Izuchukwu Ozoemena
H. E. Adegboyega Oyetola, Nigeria’s Minister of Marine and Blue Economy and Chairman, Fisheries Committee for the West Central Gulf of Guinea, is pushing for stronger regional co-operation and increased investment in the fisheries sector across West and Central Africa.
According to a release by Dr Bolaji Akinola, the Minister’s Special Adviser on Communications, the Minister made the call in Monrovia, Liberia, Monday, while speaking at the National Fisheries Investment Conference, March 30 to 31, 2026. The conference which was declared open by Liberia’s President, Joseph Nyuma Boakai, was attended by Ministers responsible for fisheries and aquaculture from across the West African subregion.
Describing the gathering as timely, Oyetola said it provided an important platform to unlock opportunities in fisheries and the wider blue economy. “This Conference comes at a critical time for our region,” he said, noting that the sector remains central to food security, employment and economic growth.
According to him, millions of people across West and Central Africa depend on fisheries and aquaculture for their livelihoods, while fish remains one of the most affordable sources of protein. However, he warned that the sector continues to face serious challenges.
“Despite our rich marine and inland water resources, the sector continues to face significant challenges,” he said, citing declining fish stocks, weak infrastructure, and limited access to finance and modern technology.
Dr. Oyetola emphasised that addressing these challenges requires a clear focus on sustainability, investment and regional collaboration. He stressed that without proper management of marine and inland resources, long-term gains would be impossible.
“Our oceans, rivers, and coastal ecosystems must be carefully managed… without sustainability, long-term benefits cannot be achieved,” he stated.
He said the the Federal Government under President Bola Ahmed Tinubu is repositioning fisheries and aquaculture as key drivers of the blue economy. He explained that policies aimed at boosting local production, reducing imports and strengthening regulation are already delivering results, including continued access to international markets for shrimp exports.
He also highlighted broader reforms in Nigeria’s blue economy, including actions to tackle marine pollution, improve port infrastructure and enhance maritime security. According to him, the country’s recent record of zero piracy incidents has helped improve investor confidence in the Gulf of Guinea.
On investment, the minister called for greater funding across the entire fisheries value chain including aquaculture, processing, cold-chain logistics and export development. He noted that with the right policies in place, the sector could generate jobs, particularly for young people, and contribute significantly to economic growth.
He also underscored the importance of regional co-operation, pointing out that fish stocks cut across national boundaries.
“No single country can tackle illegal, unreported, and unregulated fishing alone,” he said, adding that stronger collaboration through regional bodies such as the FCWC is essential.
In his role as Chairman of the FCWC Ministerial Committee, Oyetola reaffirmed the organisation’s commitment to strengthening joint efforts in fisheries governance. He highlighted ongoing initiatives, including a regional record of fishing vessels, coordinated patrols and information-sharing systems aimed at improving enforcement and sustainability.
The minister further noted that the FCWC is working to harmonise fisheries policies among member states and promote trade within the region, with the goal of improving value chains and attracting investment.
Maritime Agencies
PORTS MODERNIZATION, NATIONAL SINGLE WINDOW TO TACKLE PORTS CHALLENGES, Says NPA MD.
By Izuchukwu Ozoemena
The Nigerian Ports Authority (NPA) has, once again, reiterated plans to revolutionize the nation’s ports system with the implementation of the National Single Window Project and Ports Modernisation system.
The Managing Director of NPA, Dr. Abubakar Dantsoho, disclosed this during an interactive session with maritime journalists in Lagos.
Represented by Mr Ikechukwu Onyemekara, the General Manager, Corporate and Strategic Communications of the Agency, the MD said the modernisation project will cover all seaports ports nationwide. However, the project is set to kick off in Lagos ports with a significant investment of $700 million from the Federal Government.
He allayed concerns being expressed in some quarters that the eastern ports are excluded from the 746 million pounds ports modernization deal signed in the UK recently, assuring that the deal would involve ports nationwide on phases. He stated contrary to opinions being canvassed and fears being expressed on the fate of other ports, the case of Apapa and Tincan ports is understandable because ports business is international and the customer decides where his cargoes go. NPA is merely an umpire; the port users’ interests and preferences remain paramount.
The ports modernization process is expected to tackle pressing issues such as port congestion and delays in cargo clearance which have long plagued the sector.
According to Dantsoho, the NPA is also working to improve logistics, including rail transportation from APMT terminal and alternative cargo transport options.
The NPA is reviewing the Efficiency, Throughput, and Optimization (ETO) initiative put in place to address logistics chain challenges in the country’s port system. The review, Dantsoho assured, would yield a more effective implementation plan with provisions to ensure the ETO works seamlessly.
”When we were doing the dredging, the ports in the East were also carried along,” he said.
Government investments are focused on areas with returns on investment which is why Lagos is the starting point.
The NPA MD expressed optimism that the agency’s vision for the ports industry would leave a lasting legacy for future generations.
He urged the media to play a proactive role in monitoring societal developments, emphasizing the importance of a free and vibrant press in driving progress and accountability.
”The media has been advised to be creative and step up its role as watchdog of the society,” he concluded.
Maritime Agencies
Oyetola Welcomes EU Delegation, Urges Stronger Role Against Illegal Fishing, Maritime Crimes in the GoG.
By Izuchukwu Ozoemena
A call has gone out for deeper collaboration with the European Union (EU) to address emerging maritime threats, particularly illegal fishing, trafficking and environmental crimes in the Gulf of Guinea.

Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, made the call in Abuja,Thursday, while receiving a delegation from the EU Evaluation Mission on the Gulf of Guinea Inter-regional Network (GoGIN II) Project. Evolving security challenges in the region, Oyetola emphasized, require a broader, more integrated and sustained response anchored on strong international partnerships.
According to a press release by Dr Bolaji Akinola, the Minister’s Special Adviser on Communications, the delegation led by Ms Stéphanie Vergniault, is in Nigeria as part of an independent assessment of the EU-funded initiative, which supports maritime coordination and information sharing across the Gulf of Guinea.
Dr. Oyetola reiterated Nigeria’s firm commitment to the Yaoundé Architecture for Maritime Security, describing it as a vital platform for regional cooperation, collective response and intelligence exchange. He noted that EU-backed interventions such as GoGIN II have played an important role in strengthening this framework, particularly by enhancing maritime domain awareness and facilitating closer collaboration among national and regional agencies.
The Minister acknowledged the impact of the YARIS information-sharing system in improving coordination among maritime stakeholders, while stressing the need to sustain and optimise its operational use. He also highlighted the importance of improving interoperability between regional centres and national institutions, alongside continued capacity building and technical support.
Pointing to Nigeria’s own efforts, the Minister cited the success of the Deep Blue Project, which has contributed to a significant reduction in piracy and armed robbery at sea in the Gulf of Guinea in recent years. The progress recorded, he said, demonstrates the effectiveness of combining national ownership with regional and international support.
As the GoGIN II programme nears completion, the Minister urged stakeholders to focus on consolidating its achievements and ensuring long-term sustainability through stronger regional ownership mechanisms. He stressed that maintaining the gains recorded would be critical to securing the maritime domain and supporting economic activities across the Gulf of Guinea.
Earlier, Ms Vergniault explained that the evaluation seeks to assess the programme’s performance, operational results and sustainability, while identifying lessons that could shape future maritime security initiatives. She noted that the mission, which also includes Captain Alioune Diop, is engaging key stakeholders in Nigeria to gather operational feedback on the use of the YARIS platform, the programme’s contribution to coordination under the Yaoundé Architecture, and the prevailing challenges in the maritime sector.
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