The Nigerian Senate Committee on Finance has initiated a formal investigation into the issuance of Import Duty Exemption Certificates (IDEC) by the federal government.
The probe covers a 25-year period from March 2000 to December 2025, focusing on certificates valued at approximately N34 trillion.
The committee aims to establish accountability for what it describes as significant revenue losses stemming from these policy waivers.
The inquiry follows disclosures by the Nigeria Customs Service (NCS) that import duty exemptions cost the federal government N34 trillion in 2025 alone.
This figure highlights the scale of revenue leakage through administrative waivers, raising questions about fiscal oversight and the economic impact of long-standing exemption policies.
The Senate’s move signals a tightening of legislative scrutiny on customs administration and revenue collection mechanisms.