Customs Duty Waivers Cost Nigeria N34 Trillion in 2025, Over 60% of Budget
At a Senate finance hearing on July 13, the Comptroller-General of the Nigeria Customs Service revealed that import duty exemptions under the IDEC scheme reached N34 trillion in 2025. That amount represents 61.8% of the N54.99 trillion budget and is over four times the N7.28 trillion customs revenue collected last year. Launched in March 2020, the IDEC initiative grants duty relief for military hardware, compressed natural gas, electric and hybrid vehicles, medical equipment, industrial machinery and food intervention imports. About 60% of these waivers supported security-related military purchases, while the rest aimed to boost healthcare access, clean energy and manufacturing. The Customs boss warned that unchecked waivers are depleting Nigeria’s revenue base. He urged the government to set up stronger monitoring to ensure beneficiaries deliver outcomes like lower prices, increased production and improved healthcare access. As of June 30, 2026, Customs has generated N4.5 trillion of its N11.04 trillion target, leaving a N7 trillion gap.
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