Scrutiny of Customs Waivers and Revenue
The House of Representatives Committee on Finance has directed the Nigeria Customs Service to provide a comprehensive breakdown of approximately ₦34tn worth of import duty waivers granted in 2025. This directive, issued on Wednesday, also demands details of the beneficiaries, the legal basis for approvals, and their intended economic objectives.
James Faleke, Chairman of the committee and member representing Ikeja Federal Constituency, Lagos State, stated that while lawmakers are not opposed to the Federal Government’s policy of granting import duty waivers, the process must be transparent and subject to legislative scrutiny. The committee aims to establish whether these concessions achieved their intended economic benefits and if due process was followed.
Faleke emphasized that waivers, particularly for medical and agricultural products, are beneficial for economic growth and reducing costs like food prices. However, he insisted on knowing the beneficiaries of the ₦34tn waiver to ensure accountability.
The committee also queried the Nigeria Customs Service over inconsistencies in its revenue reporting, despite the agency consistently surpassing its annual collection targets. Faleke acknowledged Customs’ impressive performance but noted that financial documents did not adequately explain how the agency generated revenue above approved projections.
He demanded a detailed month-by-month breakdown to properly assess the service’s performance, stating that the account books were not balanced. Faleke highlighted instances where revenue collection was under-declared in some months and overshot in others, requiring clarification.
Deputy Chairman of the committee, Saidu Abdullahi, urged the Federal Government to review upward the revenue targets assigned to Customs, citing the agency's demonstrated greater revenue-generating capacity. He noted that Customs generated ₦6.1tn in 2024 against a ₦5tn target, and ₦7.2tn in 2025 against a ₦6tn target, suggesting they could achieve more if pushed.
Responding on behalf of the Comptroller-General of Customs, Bashir Adeniyi, Deputy Comptroller-General Kikelomo Adeola clarified that the Nigeria Customs Service does not approve import duty waivers. She explained that waivers are approved by the Federal Ministry of Finance in line with existing laws and government policy, with Customs only responsible for implementation.
On trade facilitation, Adeola encouraged state governments to invest in inland dry ports, describing them as critical infrastructure for decongesting seaports and accelerating cargo clearance. She also assured lawmakers that most cargo scanners at the ports were operational, with only a few units undergoing repairs.
Committee member Ifeanyi Uzokwe called for stricter accountability within the service, urging Customs to sanction officers whose negligence contributes to equipment failure or delays in cargo clearance.
Corporate Affairs Commission Under Review
Meanwhile, the House Committee also scrutinised the operations of the Corporate Affairs Commission (CAC), directing it to submit comprehensive records of all companies and businesses registered in Nigeria, including details of registration fees paid by each entity.
Lawmakers further faulted the commission for failing to submit its audited financial statements to the Fiscal Responsibility Commission since 2019, contrary to statutory requirements. They directed the CAC to immediately reconcile its accounts with the commission.
A representative of the Fiscal Responsibility Commission informed the committee that the CAC owed the Federal Government ₦13.9bn in unremitted operating surplus accumulated over several years. In response, Registrar-General of the Corporate Affairs Commission, Hussaini Magaji, disclosed that reconciliation with the Fiscal Responsibility Commission was already underway.
Magaji confirmed that both agencies had agreed on a repayment plan under which the outstanding liability would be settled through quarterly payments of ₦500m.
