The Comptroller-General of the Nigeria Customs Service (NCS), Adewale Bashir Adeniyi, has revealed that the Federal Government granted a staggering N34 trillion in Import Duty Exemption Certificate (IDEC) approvals on selected imported goods and equipment in 2025.
​Speaking on Monday, July 13, 2026, during a high-level briefing, Adeniyi issued a stark warning regarding the country’s fiscal trajectory, stating that the massive volume of tax incentives has significantly undermined the service’s revenue-generating capacity.
The N34tn waivers granted in 2025 represent a massive chunk of potential government revenue that could have funded critical infrastructure. While these incentives are designed to stimulate economic growth and support local industries, the NCS argues the current scale is unsustainable.
Adeniyi urged a strategic re-evaluation of the IDEC framework to balance economic incentives with national revenue targets.
​”While we understand the need to stimulate specific sectors of the economy through fiscal incentives, the reality is that the N34tn in exemptions granted in 2025 has put a severe strain on our capacity to generate revenue for the federation,” Adeniyi stated.
​The Customs boss called for tighter monitoring and a more selective approach to granting future waivers to ensure they deliver tangible economic value rather than just depleting the nation’s treasury.
