{"id":128390,"date":"2026-07-15T18:34:42","date_gmt":"2026-07-15T17:34:42","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=128390"},"modified":"2026-07-15T18:34:42","modified_gmt":"2026-07-15T17:34:42","slug":"reps-demand-accountability-for-%e2%82%a634trn-customs-waivers-query-revenue-records","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/reps-demand-accountability-for-%e2%82%a634trn-customs-waivers-query-revenue-records\/","title":{"rendered":"Reps Demand Accountability for \u20a634trn Customs Waivers, Query Revenue Records"},"content":{"rendered":"
By Tracy Moses<\/div>\n
<\/div>\n
The House of Representatives Committee on Finance has demanded a comprehensive account of the approximately \u20a634 trillion worth of import duty waivers granted in 2025, directing the Nigeria Customs Service (NCS) to furnish lawmakers with the identities of beneficiaries, the legal basis for the concessions, and the specific objectives they were meant to achieve.<\/div>\n
<\/div>\n
The directive was issued on Tuesday during an interactive session with the management of the Nigeria Customs Service as part of the National Assembly\u2019s ongoing oversight of revenue-generating agencies and efforts to strengthen fiscal accountability.<\/div>\n
<\/div>\n
Chairman of the Committee, Hon. James Abiodun Faleke, said the House was not opposed to the government\u2019s policy of granting import duty waivers where necessary, but insisted that the scale of the concessions required full disclosure to enable lawmakers determine whether they were consistent with national economic priorities.<\/div>\n
<\/div>\n
According to him, the Committee\u2019s interest was to establish who benefited from the waivers and whether the incentives translated into the intended economic gains.<\/div>\n
<\/div>\n
\u201cWaiver is good. It is not a bad thing to grant waiver. But we want to know those who benefited from the waiver and the purpose for such waiver. It is okay if you grant waiver on medical and agricultural products.<\/div>\n
<\/div>\n
\u201cIf you grant waiver, it is aimed at helping the economy to grow. For example, if you grant waiver on agricultural products, it is aimed at reducing the cost of food. So, we are not against waiver. But we want to know the beneficiaries of this \u20a634 trillion waiver,\u201d Faleke said.<\/div>\n
<\/div>\n
Import duty waivers are fiscal incentives granted by the Federal Government to reduce or exempt certain imports from customs duties, usually to encourage investment, lower production costs, support strategic sectors such as agriculture and healthcare, or respond to economic emergencies. However, successive administrations have faced scrutiny over the transparency of the policy and its impact on government revenue.<\/div>\n
<\/div>\n
Beyond the waiver regime, the Committee also questioned the Customs Service over what it described as inconsistencies in its revenue reporting despite consistently surpassing annual revenue targets.<\/div>\n
<\/div>\n
While acknowledging the agency\u2019s impressive collections, Faleke said the financial records presented to lawmakers did not sufficiently explain the variations in monthly revenue performance or the sources of excess revenue generated above approved targets.<\/div>\n
<\/div>\n
He maintained that accurate and detailed reporting remained essential for effective legislative oversight.<\/div>\n
<\/div>\n
\u201cWe are not going to applaud your efforts now because your account books are not balanced. We know that you want to be transparent, but you have not told us how the excess money you are reporting came about.<\/div>\n
<\/div>\n
\u201cI can see that in some months, you under-declare your revenue collection and in other months, you overshoot the collection. We want to know what is responsible for this. You have to provide these little details that will help us properly assess your performance,\u201d he said.<\/div>\n
<\/div>\n
Deputy Chairman of the Committee, Hon. Saidu Mohammed Abdullahi, argued that the Federal Government should consider setting more ambitious revenue targets for the Customs Service, noting that the agency had consistently exceeded its assigned benchmarks.<\/div>\n
<\/div>\n
\u201cI personally believe that they can do more than the target we give to them.<\/div>\n
<\/div>\n
\u201cI think we are not pushing them enough. That is why they will always come up with excesses. In 2024, you were given a target of \u20a65 trillion and you generated \u20a66.1 trillion. In 2025, you were given a target of about \u20a66 trillion and you generated \u20a67.2 trillion. I believe that if we push you enough, you can do better,\u201d Abdullahi stated.<\/div>\n
<\/div>\n
Responding on behalf of the Comptroller-General of Customs, Bashir Adeniyi, the Deputy Comptroller-General in charge of Finance, Administration and Technical Services, Kikelomo Adeola, clarified that the Nigeria Customs Service does not approve import duty waivers but merely implements approvals issued by the Federal Ministry of Finance in line with extant laws and government policy.<\/div>\n
<\/div>\n
On efforts to improve trade facilitation, Adeola urged state governments to establish inland dry ports, describing them as critical infrastructure that would decongest the nation\u2019s seaports and accelerate cargo clearance.<\/div>\n
<\/div>\n
\u201cI will encourage all state governments to invest in inland dry ports. That will have a lot of impact on our operations. Any cargo that is marked for such inland port will not be delayed at the main port.<\/div>\n
<\/div>\n
\u201cThe container will be transported directly to the inland port where it will be examined. That will reduce the pressure at the nation\u2019s ports and increase trade facilitation in the states,\u201d she said.<\/div>\n
<\/div>\n
She also assured lawmakers that Customs\u2019 cargo scanners were largely operational, with only a few units temporarily out of service for repairs.<\/div>\n
<\/div>\n
However, a member of the Committee, Hon. Ifeanyi Uzokwe, urged the Service to hold officers accountable where negligence contributed to equipment failures or avoidable delays in cargo examination.<\/div>\n
<\/div>\n
The Committee also scrutinised the Corporate Affairs Commission (CAC), directing the agency to submit comprehensive records of all registered companies and businesses in Nigeria, including the fees paid during registration.<\/div>\n
<\/div>\n
Lawmakers further queried the Commission over its failure to submit audited financial statements to the Fiscal Responsibility Commission (FRC) since 2019, contrary to statutory requirements, and directed it to reconcile its records with the Commission without delay.<\/div>\n
<\/div>\n
A representative of the Fiscal Responsibility Commission informed the Committee that the Corporate Affairs Commission owed the Federal Government \u20a613.9 billion in unremitted operating surplus accumulated over several years.<\/div>\n
<\/div>\n
Responding, the Registrar-General of the Corporate Affairs Commission disclosed that reconciliation with the Fiscal Responsibility Commission had already commenced and that both agencies had agreed on a repayment plan under which the outstanding liability would be settled through quarterly payments of \u20a6500 million.<\/div>\n
<\/div>\n
The hearing formed part of the House Committee on Finance\u2019s continuing oversight of revenue-generating agencies as lawmakers intensify efforts to improve transparency, strengthen fiscal discipline and ensure that public revenues and tax incentives are administered in accordance with the law and in the broader national interest.<\/div>\n","protected":false},"excerpt":{"rendered":"

By Tracy Moses The House of Representatives Committee on Finance has demanded a comprehensive account of the approximately \u20a634 trillion worth of import duty waivers granted in 2025, directing the…<\/p>\n","protected":false},"author":1,"featured_media":128187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-128390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nReps Demand Accountability for \u20a634trn Customs Waivers, Query Revenue Records - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/reps-demand-accountability-for-\u20a634trn-customs-waivers-query-revenue-records\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reps Demand Accountability for \u20a634trn Customs Waivers, Query Revenue Records - 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