Business A.M
No Result
View All Result
Thursday, May 28, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Frontpage

Senate  approves N238bn budget for Nigeria Customs for 2020

by Admin
July 29, 2025
in Frontpage, Nigeria

Senate  approves N238bn budget for Nigeria Customs for 2020

The Nigerian  Senate on Tuesday, approved a N238.14 billion for the Nigeria Customs Service for 2020.

Prior to the approval, some lawmakers complained that the report presented was incomplete.

They also argued that the Customs Service still collect money from the federation despite the seven per cent shares it gets from collection.

The approval followed the presentation of the report of the Senate Committee on Customs, Excise and Tariffs which considered the proposed budget for the Service.

Chairman of the committee, Francis Alimekhena (Edo North), who presented the report, said the budget is based on the federal government’s Medium Term Expenditure Framework (MTEF).

The chairman noted that provision has also been made for purchase of surveillance equipment for the border posts, given the security challenges, operational boats for anti-smuggling activities and purchase of power generators.

He added that provision is also made for the construction of new zonal offices, multipurpose theatres, warehouses, barracks and housing accommodation across the headquarters, zones and area commands.

According to him, this will enable the agency efficiently interconnect with all relevant trade ecosystem partners and all-round automation of all manual payments in every custom formation.

Alimekhena said the budget seeks to establish e-Customs project through massive deployment of information communication technology to eliminate personal interface in customs operations.

Some highlights of the bill include; implementation of the Nigeria Customs Service Salary Structure for 15,892 officers and men of the Service; recruitment of 3,200 officers and their training and provision for payment of annual premium on both Group Life/Personal Accident Insurance as provided in the new pension scheme as well as to settle part of outstanding claims of deceased officers.

He thereafter, urged his colleagues to approve the amount, “as the task for the Nigeria Customs Service are enormous at this period of international security threat and dwindling economies.”

Given the importance of the agency in terms of economic stimulation, trade facilitation, revenue collection and security at the borders and ports, the Committee hereby urges the Senate of the Federal Republic of Nigeria to give the budget a speedy passage,” he said.

Further breakdown of the budget shows personnel cost N98.61 billion representing 41.41 per cent; overhead cost N15.95 billion representing 6.70 per cent; and capital cost N123.59 billion representing 51.89 per cent.

Admin
Admin
Previous Post

FAAN terminates toll collection agreement with I-Cube at Lagos airport

Next Post

Nigeria must repay Abacha loot if it’s stolen again – US

Next Post

Nigeria must repay Abacha loot if it’s stolen again – US

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

How UNESCO got it wrong in Africa

May 30, 2017

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Oil retreats below $100 as Iran-U.S. tensions cloud Hormuz reopening

Oil retreats below $100 as Iran-U.S. tensions cloud Hormuz reopening 

May 27, 2026
Okomu Oil revenue jumps 60% to N172.6bn

Okomu Oil revenue jumps 60% to N172.6bn on demand growth

May 27, 2026
Fidelity Bank

Fidelity Bank Plc profit declines 18% as interest expense jumps 90%

May 27, 2026
World Bank turns to capital markets with IFC’s first $510m CLO

World Bank warns of rising hunger risk as food prices rise after Hormuz closure

May 27, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Oil retreats below $100 as Iran-U.S. tensions cloud Hormuz reopening

Oil retreats below $100 as Iran-U.S. tensions cloud Hormuz reopening 

May 27, 2026
Okomu Oil revenue jumps 60% to N172.6bn

Okomu Oil revenue jumps 60% to N172.6bn on demand growth

May 27, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M