₦11 Trillion Customs Target: Is Nigeria Rewarding Importation Instead of Production?
by concern citizen The Senate's approval of an ₦11.074 trillion revenue target for the Nigeria Customs Service may look impressive on paper, but it raises a troubling question about the direction of Nigeria's economy. Where exactly will this money come from? Customs is not a manufacturing agency. It does not produce goods. It does not create factories. It does not cultivate farms. Its primary source of revenue is trade, especially imports. Therefore, when government continuously raises Customs revenue targets, it inadvertently raises concerns about whether Nigeria is becoming more dependent on importation rather than production. For years, Nigerians have been told that the country is pursuing industrialization, local content development, economic diversification, and import substitution. We have heard repeated promises about supporting local industries, protecting manufacturers, creating jobs, and reducing dependence on foreign goods. Yet every year, Customs is h...