Nigerian House of Representatives demands details on N34tn customs duty waivers
via Punch Nigeria11 min read
The House of Representatives Committee on Finance has directed the Nigeria Customs Service to provide a comprehensive breakdown of N34tn worth of import duty waivers granted in 2025. The committee, led by Chairman James Faleke, is seeking details on the beneficiaries, the legal basis for the approvals, and the economic objectives these waivers were intended to achieve. While acknowledging that waivers can be beneficial for economic growth, particularly in sectors like agriculture and healthcare, Faleke emphasized the need for transparency and legislative scrutiny. The committee also questioned inconsistencies in the Customs Service's revenue reporting, despite the agency surpassing its annual targets. Deputy Comptroller-General Kikelomo Adeola clarified that the Federal Ministry of Finance approves waivers, with Customs only implementing them. She also urged state governments to invest in inland dry ports to improve trade facilitation. Separately, the committee scrutinized the Corporate Affairs Commission, demanding records of registered companies and addressing its failure to submit audited financial statements to the Fiscal Responsibility Commission since 2019, with an outstanding N13.9bn unremitted operating surplus.
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