Economists Seek Probe As Import Duty Waivers Hit ₦34tn

Economists have called for closer scrutiny after the Nigeria Customs Service said import duty exemption approvals rose to about ₦34 trillion in 2025.

Customs Comptroller-General Adewale Adeniyi disclosed the figure during an investigative session of the Senate Committee on Finance in Abuja. He said the exemptions affected Customs revenue, although some waivers were tied to government policy goals.

The waivers covered military hardware, compressed natural gas, electric and hybrid vehicles, healthcare equipment, medical supplies, industrial machinery, manufacturing inputs and food import intervention programmes.

Daily Post reported that two finance experts, Godwin Oyedokun of Lead City University and Gbolade Idakolo of SD & D Capital Management, described the scale of the exemptions as alarming and called for investigation and stronger public scrutiny.

Adeniyi told lawmakers that fiscal policy should not be judged only by revenue collection. He also urged stronger monitoring so companies and agencies that receive waivers deliver the expected benefits, including lower prices, more local production and better access to healthcare.

Sources: Daily Post, Premium Times, Channels TV