Nigeria's N34 trillion import duty waivers spark Senate probe and revenue concerns

The Nigeria Customs Service disclosed that the Federal Government approved Import Duty Exemption Certificates worth about ₦34 trillion for 2025. Approximately 60 % of the waivers covered military hardware imports, with the remainder applied to compressed natural gas (CNG) equipment, electric and hybrid vehicles, healthcare supplies, industrial machinery, manufacturing inputs and food‑import programmes.

Comptroller‑General Bashir Adewale Adeniyi testified before the Senate Committee on Finance, stating that “IDEC approvals reached about N34 trillion in 2025, 60 per cent of which was rightly granted … for military hardware procurement.” The revelation prompted the Senate to open an investigation into the fiscal policy, warn 14 ministries, departments and agencies of sanctions for non‑compliance, and demand tighter monitoring of beneficiaries.

Economists warned that the waivers represent roughly 62 % of the 2025 national budget and five times the customs revenue recorded in the same period, raising concerns over potential revenue leakages. Customs reported collections of ₦4.5 trillion by June 2026 against an ₦11.04 trillion annual target, underscoring the fiscal pressure caused by the exemptions. Lawmakers called for an independent audit and stronger oversight to ensure the waivers achieve intended economic and security goals.