Import Duty Waivers Archives

Customs: £34tn worth of customs duty relief reduces revenue as Senate probes government agencies

The Nigerian Customs Service attributed the significant drop in potential revenue to the Federal Government’s extensive import duty exemption program, and indicated that approvals granted under the Import Duty Exemption Certificate (IDEC) scheme increase to ₦34 trillion by 2025. The disclosure was made on Monday by the Comptroller General of Customs, Bashir Adeniyi, during the Senate Committee on Finance investigative …