N34 Trillion in Duty Waivers: Customs Boss Says Nigeria Lost Big in 2025
By Tunde Okoro | July 13, 2026
The Nigeria Customs Service (NCS) is sounding the alarm. Comptroller-General Bashir Adeniyi revealed on Monday that the value of Import Duty Exemption Certificate (IDEC) approvals hit a staggering N34 trillion in 2025. That is a massive chunk of potential revenue the government chose to waive, and it is hitting Customs hard in the pocket.
Adeniyi dropped this bombshell during an investigative hearing of the Senate Committee on Finance in Abuja. He made it clear: while Customs remains one of Nigeria's top revenue earners, those numbers could be even bigger if not for government-approved duty waivers and other fiscal policies.