Reps demand breakdown of ₦34tn Customs waivers, query revenue reporting

Nigeria's House of Representatives is demanding transparency from the Nigeria Customs Service regarding ₦34 trillion in import duty waivers for 2025. Lawmakers want a comprehensive breakdown of who benefited, the legal justification for these concessions, and whether they achieved their intended economic goals. Chairman James Faleke stressed that while waivers are not inherently opposed, the process must be transparent and subject to legislative review.

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Waiver is good. It is not a bad thing to grant a waiver. But we want to know those who benefited from the waiver and the purpose of such a waiver.

The committee's focus is on ensuring that these fiscal incentives, often granted to support sectors like agriculture and healthcare, actually contribute to economic growth. Concerns have been raised about potential abuse and the impact on government revenue, despite the policy being defended as an economic stimulus by successive administrations.

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If you grant a waiver, it is aimed at helping the economy to grow. For example, if you grant a waiver on agricultural products, it is aimed at reducing the cost of food. So, we are not against the waiver. But we want to know the beneficiaries of this ₦34tn waiver.

In addition to the waivers, the House committee also raised questions about the Customs Service's revenue reporting. Despite consistently surpassing annual collection targets, lawmakers noted inconsistencies in the submitted financial documents. Faleke stated that the committee requires a detailed month-by-month breakdown to properly assess the service's performance and understand how excess revenue was generated, highlighting discrepancies in monthly declarations.

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We 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.