The House of Representatives Committee on Finance has directed the Nigeria Customs Service (NCS) to submit a comprehensive report on the estimated N34 trillion in import duty waivers granted in 2025.
The committee requested detailed information identifying the beneficiaries of the waivers, the legal basis for each approval, and the specific objectives the concessions were intended to achieve.
The directive was issued on Tuesday during the National Assembly’s ongoing revenue oversight exercise, when the management of the Nigeria Customs Service appeared before the committee.
Committee Chairman, Hon. James Abiodun Faleke, said lawmakers were not opposed to the government’s policy of granting import duty waivers. However, he stressed that the National Assembly has a constitutional duty to ensure the concessions are transparent and serve the country’s economic interests.
Faleke said the committee wants to know who benefited from the waivers and whether the intended goals were achieved.
According to him, duty waivers remain a legitimate economic tool, but their implementation must be backed by accountability and proper oversight.
He noted that waivers on essential goods such as medical supplies and agricultural products are generally justified because they are aimed at improving public welfare and supporting economic growth.
Using agriculture as an example, Faleke said such incentives should help reduce food prices, adding that lawmakers require a complete list of all beneficiaries linked to the reported N34 trillion in waivers.
The committee also expressed concern over what it described as inconsistencies in the revenue figures presented by the Nigeria Customs Service, despite the agency’s record of consistently exceeding its annual revenue targets.
Faleke observed that while Customs had reported strong revenue performance, the documents submitted did not clearly explain how the additional income above approved targets was generated.
He said the committee expects a month-by-month breakdown of revenue collections, including explanations for significant fluctuations recorded throughout the year.
According to him, lawmakers could not fully assess or commend the agency’s performance until the financial records were properly reconciled.
While acknowledging Customs’ efforts to maintain transparency, Faleke insisted that the agency must provide a clearer account of its revenue sources, especially in months that recorded unusually high collections.
Deputy Chairman of the Committee, Hon. Saidu Mohammed Abdullahi, urged the Federal Government to review and increase the revenue targets assigned to key revenue-generating agencies, particularly the Nigeria Customs Service.
He argued that Customs had repeatedly surpassed its annual targets, showing it has the capacity to generate even more revenue if given more ambitious goals.
Abdullahi recalled that the agency exceeded its N5 trillion target in 2024 by collecting N6.1 trillion and also outperformed its roughly N6 trillion target in 2025 with total revenue of N7.2 trillion.
Responding to the lawmakers, the Comptroller-General of Customs, Bashir Adeniyi, who was represented by the Deputy Comptroller-General for Finance, Administration and Technical Services, Kikelomo Adeola, clarified that the Nigeria Customs Service does not approve import duty waivers.
She explained that the agency only implements approvals issued by the Federal Ministry of Finance in accordance with existing laws and government policies.
On trade facilitation, Adeola advocated the expansion of inland dry ports across the country, saying they would reduce congestion at seaports and improve cargo clearance.
She encouraged state governments to invest in such facilities, noting that containers could be moved directly from seaports to inland dry ports for inspection, thereby improving efficiency and easing pressure on port operations.
Addressing concerns over delays in cargo clearance, Adeola said most Customs scanners across the country are operational, with only a few currently undergoing repairs.
However, committee member Hon. Ifeanyi Uzokwe called on the Customs management to sanction officers whose negligence contributes to equipment breakdowns or delays in cargo processing.
The committee also turned its attention to the Corporate Affairs Commission (CAC), directing the agency to provide detailed records of all registered companies and businesses in Nigeria, including the registration fees paid by each entity.
Lawmakers further questioned the Commission over its failure to submit audited financial statements to the Fiscal Responsibility Commission (FRC) since 2019, as required by law.
The committee instructed the Corporate Affairs Commission to reconcile its financial records with those of the Fiscal Responsibility Commission without delay.
During the hearing, a representative of the Fiscal Responsibility Commission informed lawmakers that the Corporate Affairs Commission owed the Federal Government N13.9 billion in unremitted operating surplus accumulated over several years.
Responding, the Registrar-General of the Corporate Affairs Commission said the reconciliation process had already begun. He added that the agency had reached an agreement with the Fiscal Responsibility Commission to settle the outstanding liability through quarterly payments of N500 million.
