Philip Nyam 
The National Assembly Joint Committee on Finance on Tuesday, jerked up revenue projections for Nigeria Customs Service (NCS) from proposed N6.5 trillion to N12 trillion in the 2025 fiscal year.
The Committee also jerked up that of the Nigeria Deposit Insurance Corporation (NDIC) from N163.3 billion to N180 billion.
The Committee took the decisions when the Chief Executives of the Federal Government owned agencies appeared before it for the defence of 2024 budget and revenue projections for 2025 fiscal year.
First to make presentation on revenue projections for the 2025 fiscal year, was the Comptroller-General of NSC, Bashir Adewale Adeniyi, who said that having generated N6.1trillion in 2024, Customs would comfortably generate N6.5 trilliin in 2025.
However, the Chairmen of the Joint Committee, Senator Sani Musa and Hon James Faleke, in their separate remarks, told the Customs CG, that the 2025 projected revenue should be far above N6 5 trillion.
Senator Sani Musa in particular, said N10 million should be the minimum revenue generation target for Customs in 2025 which was however, increased to N12 trillion based on suggestions made to that effect by some other members of the Committee.
“Based on aggregate of opinions expressed by members of this committee, the Comptroller- General of Customs, should aim at generating N12 trillion revenue for Nigeria in 2025 which almost doubles the N6.5 trillion proposed by Customs itself”, he said.
Also, revenue generation projection was made for NDIC when its Managing Director and Chief Executive Officer, Mallam Bello Hassan, made presentation on defence of 2024 budget and revenue projection for 2025.
The NDIC boss in his presentation, informed the Committee that N163.3 billion was projected as revenue generation in 2025 which was described as very low by the Chairman of the Committee, Senator Sani Musa.
Senator Musa, after consultation with the co- Chairman, Hon James Faleke, proposed N180 billion for the Insurance body as projected revenue for 2025.
