The Comptroller General of Customs Bashir Adewale Adeniyi, has disclosed that the Federal Government approved Import Duty Exemption Certificate (IDEC) waivers up to N34 trillion in 2025, saying the fiscal incentives significantly reduced the revenue-generating capacity of the Service.
Adeniyi made the disclosure on Monday during an investigative hearing of the Senate Committee on Finance with revenue-generating agencies in Abuja.
Speaking before the lawmakers, the Customs boss explained that government fiscal policies have a direct impact on the agency’s revenue performance, either positively or negatively.
He noted that although the Nigeria Customs Service remains one of the country’s highest revenue-generating agencies, it would have recorded even higher collections if not for government-approved duty waivers and other fiscal interventions.
According to him, one of the major policies affecting Customs revenue is the Import Duty Exemption Certificate (IDEC) scheme introduced in March 2020.
He said, “IDEC approvals reached about N34 trillion in 2025, 60 per cent of which was rightly approved by the government for military hardware procurements, which attracted duty exemptions because of Nigeria’s prevailing security challenges.
“Other government-backed waivers included the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.”
Adeniyi, however, stressed that fiscal policies should not be evaluated solely on the basis of revenue generation, noting that duty waivers also serve broader economic and social objectives.
He urged the Federal Government to strengthen monitoring mechanisms to ensure that beneficiaries of the waivers achieve the intended objectives, including reducing the cost of goods, boosting industrial production and improving access to healthcare.
Earlier in his presentation, the Comptroller-General informed the committee that the Nigeria Customs Service generated N4. 5 trillion as of June 30, 2026, against itsN11. 04trillion revenue target for the year.
He said the Service still has about N7 trillion to generate before the end of the 2026 fiscal year.
More to read
Post Clearance Audit: Why the World Bank Technical Assistance matters for Nigeria’s trade competitiveness
Nigeria’s School of Eloquence receives Guinness World Records Certificate for 480-hour speech marathon
Taiwo Afolabi Maritime Conference sets to hold July 21