The Senate has launched an investigation into the Federal Government’s ₦34 trillion import duty waivers granted between March 2020 and December 2025, while warning Ministries, Departments and Agencies (MDAs) that fail to honour legislative invitations of possible sanctions.
The probe is being conducted by the Senate Committee on Finance to examine the management of import duty exemptions and ensure proper remittance of internally generated revenue and operating surplus into the Consolidated Revenue Fund (CRF).
Speaking during the investigative hearing in Abuja, the committee chairman, Senator Sani Musa, warned that agencies that continue to ignore the Senate’s invitations could face legislative sanctions and even be reported to President Bola Tinubu for administrative action.
Among the affected agencies are the Nigerian Civil Aviation Authority (NCAA), SMEDAN, Industrial Training Fund (ITF), Federal Medical Centre (FMC) Jabi, and several others.
Appearing before the committee, the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, disclosed that import duty waivers under the Import Duty Exemption Certificate (IDEC) scheme rose to about ₦34 trillion by 2025.
According to him, about 60 percent of the waivers were granted for the importation of military equipment to strengthen national security, while others covered CNG vehicles, electric and hybrid vehicles, medical equipment, industrial machinery, manufacturing inputs and food imports.
Adeniyi argued that the waivers were designed to promote economic growth, improve healthcare, support local industries and enhance national security, rather than simply reduce government revenue.
He also revealed that the Customs Service generated ₦7.2 trillion in revenue in 2025, exceeding its annual target, while ₦4.5 trillion has already been collected between January and June 2026.
During the hearing, the Fiscal Responsibility Commission (FRC) alleged that the Customs Service still owed ₦8.9 billion in unremitted operating surplus, a claim the agency denied, insisting all revenues were paid into the Treasury Single Account (TSA).
The committee directed Customs to submit updated audited financial records within one week.
Lawmakers also examined the Corporate Affairs Commission (CAC), which admitted to an outstanding ₦13.9 billion operating surplus liability and said it had begun settling the debt.
Meanwhile, the hearing involving the Nigerian National Petroleum Company Limited (NNPCL) was postponed after the Group Chief Executive Officer (GCEO) failed to appear before the committee.
The Senate has now summoned the NNPCL leadership to appear at the next hearing, insisting that top management must personally address questions relating to revenue remittances and financial compliance.
The committee reiterated that all government agencies handling public funds would be held accountable as part of the National Assembly’s constitutional oversight responsibilities.
