Abuja: The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Adeniyi, has announced that the value of Import Duty Exemption Certificate (IDEC) approvals for imported goods and equipment reached an astounding N34 trillion in 2025. This revelation came during an investigative session conducted by the Senate Committee on Finance, which scrutinized revenue-generating agencies.
According to News Agency of Nigeria, the committee also issued a stern warning to the heads of several agencies, including the Nigerian Civil Aviation Authority (NCAA) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), for failing to appear before it. Adeniyi highlighted the fluctuating impact of government policies on the revenue-generating capabilities of the NCS. He noted that while some policies have supported revenue growth, others have hindered it, citing the IDEC scheme introduced in March 2020 as a significant influence.
Adeniyi elaborated that IDEC approvals in 2025 predominantly supported military hardware procurement, accounting for about 60 percent of exemptions due to Nigeria’s ongoing security challenges. Other waivers facilitated the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment, industrial machinery, and food import initiatives. Despite these figures, Adeniyi emphasized the importance of evaluating fiscal policy beyond mere revenue metrics, considering its broader economic and social benefits.
He called for enhanced monitoring mechanisms to ensure that duty waiver beneficiaries achieve intended goals such as reduced prices, heightened production, and better healthcare access. Adeniyi also revealed that the NCS had generated N4.5 trillion out of its N11.04 trillion revenue target for 2026 by mid-year, leaving an approximate N7 trillion shortfall to meet the annual goal.
In addition, Bello Gulmare from the Fiscal Responsibility Commission (FRC) accused the NCS of having an outstanding N8.9 billion liability in unremitted operating surplus to the Consolidated Revenue Fund (CRF) as of 2019. The Senate committee, led by Sen. Sani Musa, instructed the Corporate Affairs Commission (CAC) and the FRC to reconcile these figures to determine the precise outstanding balance. Musa insisted on a detailed report within two weeks, warning that agency heads who failed to attend the session could face severe sanctions under existing rules.