Nigeria hopes to exceed its goal by 10% via a new tax collection system.

The Nigeria Customs Service (NCS) says the use of technology in ports management and tax collection has helped it achieve its revenue projections for 2024.

NCS reported that as of this week, it collected more than $3 billion with more than a month of the financial year remaining.

The agency intends to exceed its target by 10%.

Bashir Adewale Adeniyi, Comptroller-General of Customs, said in order to achieve the results, NCS was executing on the pledge made in Lagos in 2023 to modernize its operations, with technology at the core of the reforms.

“Our pledge was comprehensive and ambitious modernising our processes through a one-stop solution for cargo alerts, revolutionizing our ICT infrastructure, streamlining examination procedures, and embracing automation for enhanced efficiency,” Adeniyi said.

He was speaking at the annual Comptroller-General of Customs Conference 2024 in Abuja late Wednesday.

“We committed to reimagining our free trade zone operations, elevating cargo integrity standards, and expanding our scanning capabilities,” the Customs head said.

He said that, looking ahead to 2025, NCS has set ambitious but achievable goals that would build on the existing momentum after completely deploying e-customs infrastructure and expanding the Authorized Economic Operator (AEO) programme.

AEO is a collaborative effort between Customs and businesses to increase trade and supply chain efficiency.

“Our focus extends to strengthening regional integration through improved border cooperation and deepening stakeholder engagement through regular consultative forums,” Adeniyi said.