Nigeria Lost N34 Trillion to Import Duty Exemptions in 2025 – Customs Service
The Nigeria Customs Service disclosed that import duty exemptions cost the country N34 trillion in 2025, attributing the loss to ongoing fiscal policies that undermine revenue collection.
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Nigeria lost N34 trillion in potential revenue from import duty exemptions in 2025, the Nigeria Customs Service (NCS) has revealed. The Comptroller-General of the NCS, Bashir Adewale Adeniyi, attributed the significant loss to the continued issuance of Import Duty Exemption Certificates (IDECs), a policy that has been in effect since March 2020.
According to Adeniyi, government fiscal policies have substantially eroded the revenue-generating capacity of the customs authority. He stated that the cumulative cost of IDEC approvals on imported goods and equipment reached N34 trillion by 2025. The exemptions, granted on various categories of imports, have created a growing fiscal challenge, limiting the agency’s ability to meet revenue targets.
Channels Television and Daily Trust both reported on the disclosure, citing the Comptroller-General’s public statement. The Senate Committee on Finance has taken notice, with indications it may review the operations of key revenue agencies, including the NCS, amid concerns over systemic revenue leakage.
The N34 trillion figure underscores long-standing concerns about the economic impact of broad-based import duty waivers, particularly when not tied to measurable development outcomes. With Nigeria facing persistent budget deficits and rising public debt, the scale of the exemption cost highlights the tension between policy-driven relief measures and sustainable revenue mobilization.