Senate probes N34tn duty waivers
Analysis based on 7 articles · First reported Jul 13, 2026 · Last updated Jul 14, 2026
The probe may lead to tighter fiscal controls and reduced duty waivers, potentially increasing government revenue but raising costs for import-dependent sectors. Persistent non-compliance by MDAs could trigger administrative shake-ups, affecting investor confidence in Nigeria's fiscal discipline.
The Nigeria — United States Senate Committee on Finance, chaired by Senator Sani Musa, launched an investigation into the Federal Government's issuance of Import Duty Exemption Certificates (IDECs) valued at about N34 trillion between 2020 and 2025. The committee also threatened sanctions against 14 MDAs that failed to honor invitations to an ongoing probe into revenue remittances. Nigeria — Nigeria Customs Service Comptroller-General Bashir Adewale Adeniyi defended the waivers, noting that 60% covered military hardware, while the rest supported CNG vehicles, healthcare, manufacturing, and food imports. He reported Customs revenue performance: N3.2 trillion in 2023, N6.1 trillion in 2024, N7.2 trillion in 2025, and N4.5 trillion in H1 2026. The Nigeria — Fiscal Responsibility Commission disclosed that Customs had not submitted audited accounts beyond 2019 and had an estimated N8.9 billion outstanding surplus liability. The Nigeria — Corporate Affairs Commission acknowledged N13.9 billion in unremitted revenue. The committee ordered Customs to submit audited accounts within one week and directed reconciliation of CAC's liability. The NNPCL GCEO was summoned after failing to appear. Senator Adams Oshiomhole questioned reduced vehicle import duties. The committee warned defaulting agencies of sanctions, including referral to President Bola Tinubu.
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