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2025 Budget: NASS Joint Committee Directs NCS To Block Revenue Leakages To Achive N10.5trn Target

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By Gloria Ikibah
The National Assembly Joint Committee on Finance has directed Nigeria Customs Service (NCS) to block leakages and put stringent measures in place in other to achieve the N10.5 trillion revenue target for the year 2025.
The Joint Committee also issued a 48-hour ultimatum to Chief Executive Officers of key revenue generating agencies including Chairman of Federal Inland Revenue Service (FIRS), Zacch Adedeji, Managing Directors of Nigerian Ports Authority (NPA), Adedayo Adeyeye and Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola.
The lawmakers who zealously opposed the N6.5 trillion revenue projection presented for the year, called on the need for the Service to ensure effective monitoring of its personnel, address issues bothering on under-declaration, among other sharp practices at the nation’s ports.
In his address, the Chairman, Senate Committee on Finance, Senator Sani Musa explained that the N10.5 trillion new revenue target was achievable after due consideration of available information obtained from the Budget Office of the Federation.and other parameters.
He however noted that the Parliament will not hesitate to raise the revenue target to N12 trillion if the issue of non-remittance of 80 percent Operating Surplus as provided by the Fiscal Responsibility Act, 2007 is not addressed with Fiscal Responsibility Commission.
In his presentation, FRC Chairman, Victor Murako alleged that NCS which started to comply with provisions of the Act in 2015 to 2019, has failed to remit the Operating Surplus to the Consolidated Revenue Fund till date.
According to him, the Service is indebted to the tune of N8.6 billion as at 2019, adding that the agreement reached after the intervention of the Public Accounts Committee last year was not honored by Nigeria Customs Service.
While responding to the presentation, NCS Comptroller General, Mr. Adeniyi Adewale promised to work with the Legal Department to address the issue of operating surplus between one or two weeks.
On the question bothering on the revenues accruing to Nigerian Customs Service as raised by Chairman, House Committee on Finance, Rep. James Faleke, the NCS Comptroller General disclosed that the Service collects 2 percent Value Added Tax, 7 percent collection while 4 percent FOB was yet to be implemented but being worked out by the Ministry of Finance and office of Accountant General of the Federation.
He however observed that the CISS comes occasionally over the past two years.
The lawmakers who spoke during the interactive session with heads of key revenue generating agencies including Nigerian Customs Service (NCS), Nigeria Deposit Insurance Commission (NDIC), however decried the failure of heads of some government revenue generating agencies to honour invitation and appear for 2025 budget defence.
They highlighted that the affected agencies including: Nigerian Postal Service (NPS) and the Nigerian Railway Corporation (NRC), Nigerian Civil Aviation Authority (NCAA), Standard Organisation of Nigeria (SON), Tertiary Education Trust Fund, Oil and Gas Free Zones Authority and National Agency for Food and Drug Administration and Control (NAFDAC), risk withdrawal of funding for 2025 fiscal year.
Others are: Nigerian Copyright Commission, National Insurance Commission, National Pensions Commission, National Space and Research Development Agency and Nigerian Metrological Agency.
Also included are: Nigerian Agricultural Insurance Corporations, Airspace Management Authority, Nigerian Content Development and Monitoring Board, Nigerian Liquified Natural Gas Limited (NLNG), Transmission Company of Nigeria (TCN), Bank of Industry (BoI), Nigerian College of Aviation Technology (NCAT), Zaira.
In his remarks, Chairman, Senate Committee of Finance, Senator Musa observed that President Bola Tinubu while presenting the 2025 budget to the joint session of the National Assembly, mandated all the Ministers and heads of agencies to appear to defend their respective budgets before assembly with every sense of responsibility.
The Senator said that members of the National Assembly had to cut short their Christmas holidays to attend to the national assignment.
“But to our dismay a lot of agencies have refused to honor our invitations to appear before us, for us to scrutinise their performances in 2024 and look at their 2025 projection, if it is justifiable.
“The all these agencies have refused to honour the joint committee’s invitation. So by virtue of the constitutional powers that have been given to the joint Committees on Finance of both the Senate and the House of Representatives, we are given the chief executives of these agencies 48 hours within which to appear before this joint committee.
“Failure to do that the committee will not hesitate to recommend to the Appropriation Committee to withhold any appropriation to these agencies.
“If these agencies are self funded, we will also request both the Minister of Finance and the Accountant General of the Federation to withhold their funding,” he said.
Also speaking, the Chairman, House Committee on Finance, Hon. James Faleke (APC-Lagos state) said that the essence of the budget defence exercise was to boost revenue generation and cut down on borrowing.
“If these agencies refuse to appear before us, I the needful will be done by the National Assembly,” he said.

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May 18 primaries has come to a close, I appeal to all my people to support all APC candidates -Ize-Iyamu

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Pastor Osagie Ize-Iyamu has beckoned on all his loyalists to support All Progressives Congress APC candidates after the party formally endorsed all Edo State candidates.

This was contained in a statement he personally signed encouraging his loyalists in Edo South to throw their weights behind all APC candidates.

Hear him:

“Following wide-ranging consultations with our leaders, party members, supporters, women, youths, and well-wishers across Edo South, Nigeria, and the diaspora, I address you today(Monday ) with profound gratitude, humility, and an unwavering commitment to the unity and progress of our great party.

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“The APC Edo South Senatorial Primary held on May 18, 2026 has come to a close. Our party has completed its democratic process, and a candidate has emerged. I accept the decision of our party in good faith and appeal to all our members, followers and friends to do same.

“The All Progressives Congress is greater than any individual ambition. It is a platform built on service, sacrifice, discipline, and our shared commitment to a better future for our people. Political contests may test our preferences, but they must never diminish our common purpose.

To every supporter, coordinator, volunteer, grassroots mobiliser, and everyone who stood with us throughout this journey, I offer my heartfelt appreciation. Your loyalty, sacrifices, encouragement, and prayers have been a constant source of strength. I remain deeply grateful for your confidence and steadfast support.

I wish to specially thank our brothers and sisters in the diaspora across party lines for the overwhelming support they gave my senatorial bid and assure them of my continous commitment to the development and progress of our district. I urge every one of you to remain peaceful, reject division, and continue to uphold the values that have always defined our people.

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Now is the time to reconcile, close ranks, and focus on the greater task before us. Our collective responsibility to serve the people of Edo South is far greater than any individual aspiration. As we move forward, I remain committed to working with our leaders, stakeholders, and party faithfuls to strengthen the APC, secure victory in the general election, and advance the development and well-being of Edo South Senatorial District.

The contest is behind us. The future is before us. Let us move forward with one resolve, and one commitment- to build a stronger APC and a more prosperous Edo South.

Thank you for your prayers, your loyalty, and your unwavering support throughout this journey.
History will not remember the contest we fought; it will remember the future we built together. Let us unite. Let us serve. Let us win for the APC, for Edo South and for the people of Edo State.

God bless the All Progressives Congress. God bless Edo South Senatorial District. God bless Edo State.
God bless the Federal Republic of Nigeria. Oba gha to kpere, ise

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Senate investigates N34tn Duty Waivers, Threatens Sanctions for Defaulting Agencies

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The Senate Committee on Finance has opened a fresh scrutiny of the Federal Government’s import duty waiver regime after the Nigeria Customs Service (NCS) disclosed that the value of Import Duty Exemption Certificates (IDECs) issued since March 2020 rose to about ₦34 trillion by 2025.

The committee also threatened sanctions against the heads of several Ministries, Departments and Agencies (MDAs), including the Nigerian Civil Aviation Authority (NCAA), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Industrial Training Fund (ITF) and the Federal Medical Centre (FMC), Jabi, for failing to appear before its investigative hearing on revenue remittances.

Appearing before the committee on Monday, Comptroller-General of Customs, Bashir Adewale Adeniyi, said the agency’s revenue performance had been significantly influenced by government fiscal policies, particularly import duty exemptions granted to strategic sectors.

He explained that about 60 per cent of the ₦34 trillion worth of duty waivers covered military hardware imported to strengthen Nigeria’s security architecture, while the remaining exemptions applied to imports of Compressed Natural Gas (CNG), electric and hybrid vehicles, medical equipment, industrial machinery, manufacturing inputs and food items under government intervention programmes.

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Adeniyi maintained that duty waivers should not be assessed solely on the basis of revenue forgone, arguing that they were intended to promote broader economic and social objectives, including industrial growth, improved healthcare delivery and national security.

He, however, recommended stronger monitoring mechanisms to ensure beneficiaries of the incentives deliver the expected outcomes through increased production, lower prices and wider economic benefits.

The Customs boss also told lawmakers that the Service had generated about ₦4.5 trillion as of June 30, 2026, against an annual revenue target of ₦11.04 trillion.

However, the hearing exposed disagreements over Customs’ financial obligations after the Fiscal Responsibility Commission (FRC) alleged that the agency had an outstanding operating surplus liability of about ₦8.9 billion based on its 2019 audited accounts.

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Customs officials rejected the claim, insisting that the figures required reconciliation.

The committee also turned its attention to the Corporate Affairs Commission (CAC) after the Fiscal Responsibility Commission alleged that the agency had failed to remit about ₦13.9 billion in operating surplus between 2023 and 2025.

Responding, the Registrar-General of the CAC, Hussaini Ishaq Magaji, acknowledged the outstanding liability but said the Commission had commenced gradual settlement of the amount.

To establish the actual figure, Chairman of the committee, Senator Sani Musa, directed the CAC, the Fiscal Responsibility Commission and the committee’s secretariat to reconcile their records and submit a comprehensive report within two weeks.

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The committee also expressed displeasure over the absence of several invited agencies from the investigative hearing.

Senator Musa warned that the heads of the NCAA, SMEDAN, ITF, FMC Jabi and other defaulting agencies must appear at the next sitting or face sanctions under the Senate Standing Rules.

He stressed that agencies responsible for managing public resources have a constitutional obligation to account for revenues generated on behalf of the Federal Government and comply with legislative oversight.

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Fresh 2027 Election Alarm as Igbo Leaders Warn Against Crushing the Opposition

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Prominent Igbo leaders have raised fresh concerns over the future of Nigeria’s democracy, warning that the continued suppression of opposition parties could undermine the credibility of the 2027 general elections and trigger political instability across the country.

The warning was issued by the Igbo Leaders of Thought (ILT), an influential assembly of intellectuals, traditional rulers and stakeholders from Nigeria’s South-East. The group argued that no democratic system can thrive without a strong and active opposition capable of holding those in power accountable.

In a statement signed by ILT President, Prof. Elochukwu Amucheazi, and Secretary, Prof. Jerry Chukwuokolo, the organisation condemned what it described as a systematic campaign to weaken opposition parties ahead of the next general election.

According to the group, recent developments—including concerns raised by Nigeria Democratic Congress (NDC) presidential candidate Peter Obi over his personal safety and alleged frustration of his business interests, as well as judicial rulings affecting major opposition parties—have raised serious questions about the country’s democratic environment.

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The ILT also recalled previous remarks by Edo State Governor Monday Okpebholo, who had warned that Peter Obi’s security could not be guaranteed in the state. The group further noted that during Obi’s visit to Edo State earlier this year for political activities, gunshots were reportedly fired at him and members of his entourage.

The organisation warned that weakening opposition parties through the use of state institutions could damage Nigeria’s democratic foundations and reduce public confidence in the 2027 elections.

The group specifically expressed concern over what it described as the use of institutions such as the judiciary, security agencies and the Independent National Electoral Commission (INEC) in ways that could prevent opposition parties from competing effectively with the ruling party.

“The democracy Nigerians enjoy today did not come easily. It was achieved after years of struggle against military rule,” the statement said.

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The ILT argued that those who once fought for the restoration of democracy should not now be associated with actions that weaken democratic competition.

It warned that if the current political atmosphere is not addressed, Nigeria could face another major political crisis similar to those experienced during previous republics.

Drawing lessons from history, the group referenced the 1962 “Operation Wetie” political violence in Western Nigeria, which eventually contributed to the military coup of January 15, 1966.

It also recalled the disputed governorship election in Ondo State during the Second Republic, saying the resulting violence and destruction paved the way for another military intervention in 1983.

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The organisation further pointed to the violence that followed the 2011 presidential election, which, according to Human Rights Watch, claimed more than 800 lives in northern Nigeria, including members of the National Youth Service Corps (NYSC).

The ILT stressed that its warning was not intended to create fear but to encourage political leaders and institutions to uphold democratic principles, protect political competition and ensure that the 2027 elections remain peaceful, credible and acceptable to all Nigerians.

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