Reps Demand Breakdown of N34 Trillion Customs Waivers

On Wednesday, the House of Representatives directed the Nigeria Customs Service to submit a comprehensive breakdown of approximately N34 trillion worth of import duty waivers granted for the 2025 fiscal year. The lawmakers, led by Hon. James Abiodun Faleke, chairman of the House Committee on Finance, requested information on the beneficiaries and the legal basis for the waivers.

Faleke stressed that while the committee does not oppose the government's waiver policy, it seeks transparency to ensure that the concessions serve the nation's interest. He noted inconsistencies in the Customs' revenue reports, despite the agency surpassing its annual revenue target.

Deputy Chairman Hon. Saidu Abdullahi emphasized the need for the federal government to raise revenue targets assigned to the Nigeria Customs Service. Bashir Adeniyi, representing the Deputy Comptroller General, clarified that the Customs does not approve import duty waivers but implements those granted by the Federal Ministry of Finance.

The committee also discussed the need for infrastructure improvements, such as establishing inland dry ports to reduce congestion at seaports.