The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adeniyi, has disclosed that the Federal Government approved ₦34 trillion worth of import duty waivers in 2025, with about 60 per cent of the exemptions granted for the importation of military hardware to tackle the country’s security challenges.
Adeniyi made the disclosure on Monday during an investigative hearing of the Senate Committee on Finance with revenue-generating agencies in Abuja, noting that the incentives significantly reduced the agency’s revenue-generating capacity.
He explained that the remaining duty waivers covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment, medical supplies, industrial machinery, manufacturing inputs and food items under various government intervention programmes.
According to the Customs boss, although the waivers affected revenue generation, they were introduced to support broader national objectives, including economic growth, improved healthcare, increased local manufacturing and other strategic government priorities.
He, however, urged the Federal Government to strengthen monitoring mechanisms to ensure beneficiaries deliver the intended outcomes, such as lower consumer prices, higher industrial output and improved access to healthcare services.
Adeniyi also revealed that the Nigeria Customs Service generated ₦4.5 trillion as of June 30 against its ₦11.04 trillion revenue target for 2026, leaving about ₦7 trillion to be realised before the end of the fiscal year.
The hearing also exposed disagreements over the remittance of operating surpluses by some government agencies.
Representing the Fiscal Responsibility Commission (FRC), Deputy Director of Monitoring and Evaluation, Bello Gulmare, alleged that the Nigeria Customs Service owed ₦8.9 billion in unremitted operating surplus dating back to 2019, an allegation Customs officials rejected.
The FRC also claimed that the Corporate Affairs Commission (CAC) had an outstanding ₦13.9 billion operating surplus covering the period between 2023 and 2025.
Responding, CAC Registrar-General Hussaini Ishaq Magaji said the commission had been settling the outstanding obligations in phases.
Following the submissions, the Senate Committee on Finance directed the CAC, the FRC and its secretariat to reconcile their records and determine the actual outstanding balance within two weeks.
The committee also warned the heads of the Nigerian Civil Aviation Authority (NCAA), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Industrial Training Fund (ITF), the Federal Medical Centre, Jabi, and other agencies that failed to honour its invitation to appear at the next hearing or face sanctions.
Chairman of the committee, Senator Sani Musa, said the Senate would continue to strengthen oversight of revenue-generating agencies to improve government revenue, enforce compliance with the Fiscal Responsibility Act and ensure proper remittance of operating surpluses into the Consolidated Revenue Fund.
