The Nigeria Customs Service reported a loss of N1.3tn in 2023, attributing it to the waivers and concessions President Muhammadu Buhari’s administration granted to investors.
During a Wednesday public hearing at the National Assembly, the Comptroller General of the NCS, Adewale Adeniyi, disclosed the financial setback. Adeniyi, represented by Deputy Comptroller General Mba Musa, also mentioned the lack of access to details regarding the Customs $3.2bn modernization project.
During the hearing, senators sought information from the Customs CG regarding the agreement signed by the federal government for the modernization of Nigeria Customs. In April 2023, the Federal Executive Council approved the Nigeria Customs Service modernization project, also known as e-customs, despite a court order restraining the Federal Government from proceeding with the initiative.
President Buhari’s administration specifically endorsed the implementation of the Customs modernization project to a concessionaire. The concessionaire was awarded to Bergman Securities Consultant and Suppliers Limited as the project sponsor, Africa Finance Corporation UFC as the lead financier, and Huawei Technologies as the lead technical service provider.
However, stakeholders criticized the project, contending that it jeopardizes the future of the service and poses a threat to national security.
Addressing the Senate joint panel on the modernization project, Mba informed lawmakers that the Nigeria Customs Service was not privy to the details of the modernization agreement.
He said, “We are not privy to details of modernisation agreement of the Nigeria Customs Modernisation Project.” He also declared that the Nigeria Customs Service lost of N1.3tn in 2023 due to waivers and concessions the President Muhammadu Buhari’s administration granted to investors.
He explained that “NCS would have generated more revenue to the nation’s Consolidated Revenue Fund in 2023 if not for the waivers and concessions arrangements.”
Not comfortable with the arrangement, Musa, the Chairman of the Joint Committee, said the Senate would commence investigation into granting of waivers and concesioning in the country.
Senator Musa said, “By now, we shouldn’t be talking about concession for cement manufacturers; we should not even be talking about sugar importation.
“We should not deny ourselves revenues that we should generate to make our economy vibrant. By now, we should be consolidating on waivers given to boost revenues.”
“We would review the waivers and make our recommendations. By now, you (NCS) should be meeting up on your projected target if there are no waivers,” Musa added.
