Nigeria Loses N8 Trillion Annually to Tax Waivers

Jame Abiodun Falek, the chairman of a 19-member committee established by the House of Representatives, disclosed that Nigeria loses approximately N8 trillion annually due to waivers and concessions. This information was revealed on Tuesday, highlighting that from 2023 to 2026, the federal government is projected to forgo N12.4 trillion in tax incentives.

The committee was constituted following House Resolution HR 112 on November 13, 2025, to investigate revenue leakages associated with administrative incentives. The committee aims to recommend policy and legislative reforms, focusing on a structural review of tax incentives, export incentives, waivers, and exemptions from 2015 to 2025.

The investigation is driven by concerns over significant public revenue losses amid mounting fiscal and infrastructure challenges. Falek emphasized that the exercise is not a witch hunt but aims to strengthen incentive administration and safeguard public funds.

The committee has requested relevant ministries and agencies to clarify processes and ensure transparency.