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N8trn Lost To Waivers, Concessions Yearly – Faleke
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By Gloria Ikibah
The House of Representatives has decried that Nigeria loses about N8 trillion annually due to waivers and concessions.
Chairman Ahoc Committee on the Review of Tax and Export Incentives, Waivers and Exemptions, Rep. James Faleke, revealed this in a statement, assuring that periodic review of the exercise will be given and the committee will be transparent in its probe.
He said: “You will recall that on the 13th, the House debated the above motion with vigour and serious concern. Accordingly, the House constituted an Ad Hoc Committee pursuant to Resolution HR.112/11/2025 of 13 November 2025, with a mandate to investigate revenue losses and leakages arising from the administration of these incentives and to recommend appropriate policy and legislative reforms.
“This 19-Member Ad-Hoc Committee is chaired by no less a personality than Rt. Hon. James Abiodun Faleke, who also chairs the Committee on Finance. The House was intentional about its membership.
“The Committee has, accordingly, commenced a structured review of the administration and impact of tax incentives, export incentives, waivers, exemptions, and other fiscal support instruments granted by the Federal Government between 2015 and 2025.
“Available data indicate that Nigeria loses an estimated ₦8 trillion annually to such waivers and concessions. Between 2023 and 2026, the federal government projects total revenue forgone from tax incentives at ₦12.4 trillion, while the tax-to-GDP ratio remains at only 10.6%, which is among the lowest in Africa.
“This is paradoxical and concerning, given the financial and fiscal challenges the nation is facing. The new tax regime has presented us with an opportunity to look inwards”.
The committee Chairman said the review was as a result of increasing concerns, based on the available official data and budgetary reports, that significant public revenues may have been forgone or ineffectively applied under various incentive schemes, at a time when the nation continues to face pressing fiscal, infrastructure, and development challenges.
“While these incentives were originally designed to stimulate investment, promote exports, support strategic sectors, and grow the economy, the House has resolved that it is both necessary and timely to:Assess their actual economic impact;
• Determine whether they were administered transparently and in line with due process; and
• Ensure that Government support delivers measurable value to the Nigerian economy.
“Given the breadth and complexity of the subject matter, the Committee is conducting its work in phases. The first phase of the review focuses on four priority areas with significant fiscal and economic implications:
“The Export Expansion Grant (EEG); The RT200bn FX Programme; The Pioneer Status Incentive; and
Selected Oil and Gas fiscal incentives”, he added.
Faleke noted that the exercise is not a witch-hunt and should not be misconstrued as an attempt to undermine legitimate businesses or government support programmes.
“Rather, it is intended to strengthen the administration of incentives, safeguard public funds, and restore confidence in policies designed to support investment and export-led growth.
“In particular, the Committee recognises the concerns of exporters regarding outstanding obligations under the Export Expansion Grant and is undertaking an evidence-based verification process to ensure that legitimate and duly substantiated claims are validated and appropriately addressed.
“As part of its work, the Committee has requested records from relevant Ministries, Departments, and Agencies and will, where necessary, invite companies that have benefited from these incentives to provide clarification and documentation. Such engagements will be conducted transparently, fairly, and in accordance with due process.
“The Committee’s work forms part of the House of Representatives’ broader oversight responsibility and supports the Federal Government’s ongoing economic reform efforts, including the objectives of the President’s Renewed Hope Agenda to build a resilient, competitive, and productive economy.
“The House assures stakeholders and the general public that periodic updates will be provided as the review progresses”, he promised.
News
NDLEA nabs India-bound bizman with cocaine, recovers N3.6b Colos, codeine in Lagos(Photos)
. 70-year-old grandpa nabbed, large consignments of opioids, others seized in Kano, Kwara, Edo, Plateau, Oyo, Delta sweeps
A 48-year-old businessman Nwankwo Innocent Onyebuchi who liquidated all his assets to chase a dream of quick riches in the illicit drug trade has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at the Murtala Muhammed International Airport (MMIA) Ikeja Lagos, while heading to New Delhi, India, with 1.550 kilograms of cocaine cleverly concealed within the side walls and railings of his bag.

Nwankwo who deals in marbles in Lagos was arrested at the departure hall of terminal II of the Lagos airport while attempting to board a Qatar Airways flight to New Delhi, India.
A search of his check-in bag uncovered 1.550 kilograms of cocaine factory-fitted in the walls and railings of his bag.
In a candid confession that lays bare the desperation that fuels the drug trade, Nwankwo said he had sold off his marble business and every asset he owned to raise the ₦23 million he paid for the consignment, with the expectation of selling it in India for as much as N100 million.
With his assets gone, and Nwankwo’s dream of transiting from a marble trader to a drug kingpin effectively shattered following his arrest, the suspect remains in custody awaiting prosecution and likely time in jail.
In another operation, NDLEA operatives acting on credible intelligence raided a warehouse within a residential compound at 20 Hakeem Dosumu street Ago Palace area of Okota, Lagos, where a massive stockpile of codeine-based syrup was discovered.
A total of 3,776 cartons, comprising 377,600 bottles of the controlled substance, valued at over N2.6 billion, were recovered between Friday 7th and Saturday 8th August 2026.
In yet another intelligence-led operation, NDLEA operatives on Wednesday 14th August raided the residence of a 55-year-old kingpin Shoremi Kayode, at 37 Ogundare street, Ipaja estate, Ipaja area of Lagos, recovering 324 kilograms of Colorado, a synthetic strain of cannabis, with a street value of Nine Hundred and Seventy-Two Million Naira (N972,000,000).
Also recovered from the suspect were a Mercedes-Benz car and a Toyota Corolla car.
In Kwara, two suspects: Abubakar Adamu, 50, and Bilyaminu Nuhu, 30, were on Thursday 13th August arrested at Kam Wire area of Ilorin with 55.96kg skunk in a truck marked DKA 350 XL recovered, while two other suspects: 70-year-old grandpa Abdulfatai Oyelaran and Abdulrauf Ajadi, 50, were nabbed by NDLEA officers on patrol along the Lagos-Ibadan expressway, Ibadan, Oyo state on Wednesday 12th August. Recovered from their Toyota Sienna vehicle marked FFA-115KA, include: 52,000 ampoules of pentazocine injection and 6,000 ampoules of tramadol injection.


A total of 124,100 pills of tramadol; 786 bottles of codeine syrup; 2,598 tablets of rohypnol;
4,800 tablets of diazepam; 470 ampoules of pentazocine injection and 200 ampoules of tramadol injection were recovered from two suspects: Osaro Ikpoba, 43, and Samuel Godbless, 18, along Onitsha/Asaba expressway on Thursday 13th August, while another suspect, Emeka Tony, 50, was nabbed with 1,244 pieces of cartridges and monetary exhibit of eight million naira (N8,000,000) only along Kwale/Ozoro expressway on Wednesday 12th August.
A Toyota Corolla car with registration number MKD 341 EA was intercepted by NDLEA operatives along Riyom/Jos road, Jos Plateau state where 239,490 caps of tramaforce, a brand of tramadol were recovered and a suspect Kasum Sherif arrested.
In Kano, six suspects were arrested on Monday 10th August by NDLEA operatives on patrol along Zaria-Kano road.
They include: Okodili Ibeabuchi, 60; Onyeka Vincent, 47; Nwanko Wisdom, 36; Success Chigozie, 30; Emmanuel Jude, 27; and Chinedu Peter, 39. Large consignments of opioids were recovered from them include 728,958 pills of tramadol, rohypnol, and others as well as 360 grams of cocaine, 99.8 grams of methamphetamine, 50 bottles of codeine syrup and and 2.7 kilograms of Loud, a synthetic strain of cannabis.

Also in Kano, NDLEA operatives on Friday 14th August raided the Zawaciki Gida Dubu, Kumbotso LGA, where they recovered 171 blocks of skunk weighing 106.8kg and arrested two suspects: Mustapha Iliya, 30, and Abdulwahab Abdulrashid, 24 in connection with the seizure.
A total of 4,628.9775kg skunk was destroyed on two cannabis farms that measured 1.851591 hectares at Ugboku/Igbanke forest, Orhionmwon LGA, Edo state where a suspect Agholor Elebojie, 40, was arrested in one of the farms during a raid by NDLEA operatives on Wednesday 12th August. Another suspect, Kingsley Anigala, 28, was nabbed with 25.857kg Loud and 93 grams of meth during a raid of drug joints at Oluku area of Benin city on Friday 14th August.

The War Against Drug Abuse (WADA) social advocacy activities by NDLEA Commands equally continued across the country in the past week. Some of them include: WADA sensitization lecture delivered to students and staff of Madarasatu Sheikh Muhammad Rabi’u Arabic School, Kano and Olomu Junior Secondary School, Ajah, Lagos state, among others.
While commending the officers, men and women of MMIA, Lagos, Kano, Kwara, Edo, Plateau, Oyo and Delta Commands of the Agency for the arrests and seizures of the past week, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) also praised their counterparts in all the commands across the country for pursuing a fair balance between their drug supply reduction and drug demand reduction efforts.
News
Major reason why dancing Gov Adeleke won Osun again: The Forces Behind the Governor’s 2026 victory
Dancing Governor Ademola Adeleke’s victory in the 2026 Osun State governorship election was more than a routine incumbency advantage.
It was the product of several political forces coming together at a critical moment: a strong grassroots structure, the visibility of his administration, strategic vote mobilisation and an opposition that failed to convert its numerical strength into a winning coalition.
When the Independent National Electoral Commission (INEC) finally declared the result, Adeleke of the Accord Party had secured 511,067 votes, defeating the All Progressives Congress (APC) candidate, Bola Oyebamiji, who polled 444,815 votes.
The governor won by 66,215 votes and carried 19 of the state’s 30 local government areas.
The figures tell only part of the story. Behind them lies a political campaign that demonstrated the importance of grassroots organisation, personal popularity and the ability to turn incumbency into electoral advantage.
The incumbency advantage
Perhaps the most obvious factor was Adeleke’s position as the sitting governor.
Unlike his principal challenger, Adeleke entered the contest with an established political structure and a record voters could assess. His campaign was therefore not based entirely on promises about what he would do; it could point to projects and programmes undertaken since his assumption of office.
Before the election, his campaign organisation repeatedly highlighted his administration’s achievements and its five-point agenda, while presenting the governor as a leader with a record to defend. That strategy gave his campaign a simple message: voters should compare the administration they had experienced with the alternative being offered.
In an election where more than two million voters were registered, that distinction mattered.
A powerful grassroots machine
Osun politics has always been heavily influenced by grassroots mobilisation, and Adeleke’s political strength has increasingly been built around that reality.
The governor did not rely solely on major rallies in Osogbo or other urban centres. His campaign maintained visibility across local governments and communities, with political structures working to translate his popularity into actual votes.
The final result showed how effective that machinery was.
Adeleke did not simply win narrowly in a handful of constituencies. He accumulated sizeable margins in several areas, producing a statewide advantage that the APC could not overturn. Reports from the collation exercise showed Accord taking important victories in places including Iwo, Ede South and Ife North.
That pattern is significant: in a first-past-the-post election, winning comfortably in multiple local governments can be more decisive than producing isolated landslides.
The Adeleke factor
Another major reason for the victory was the governor’s personal political brand.
Adeleke has developed an unusual connection with sections of the Osun electorate, particularly among younger voters. His dancing, informal public appearances.
News
BREAKING: Adeleke dismantles APC with 511,067 votes
…won 19 LGAs To Defeat Oyebamiji by 66,252 Votes
The Independent National Electoral Commission on Sunday declared Adeleke of the Accord Party winner of the 2026 Osun State governorship election, defeating APC’s Munirudeen Bola Oyebamiji by a margin of 66,252 votes.
The announcement ended days of tension, IReV blackouts, and allegations of foul play.
THE FINAL FIGURES—
After collation across all 30 LGAs, INEC announced:
– Accord Party – Ademola Adeleke: 511,067 votes
– APC – Bola Oyebamiji: 444,815 votes
– ADC – Najeem Salaam: 17,180 votes — distant third
Total valid votes: 985,079
Rejected ballots: 20,721
Total votes cast: 1,005,800
From 2,339,544 registered voters, 1,010,684 were accredited — a turnout of 43.2%.
—LGA BREAKDOWN: ADELEKE DOMINATES—
Adeleke carried 19 of 30 LGAs, including his strongholds of Ede, Osogbo, Ilesa, and Iwo.
Oyebamiji won 11 LGAs, but couldn’t overcome Adeleke’s margins in the populous urban centres.
The 66,252-vote gap is one of the widest in a competitive Osun governorship contest in the last decade.
The result is a massive blow to the APC.
The party had thrown everything at Osun.
National Chairman Nentawe Yilwatda called it a “must-win.”
A 276-member campaign council led by Gov. Hope Uzodimma was deployed. Senate President Godswill Akpabio, Speaker Tajudeen Abbas, Minister Adegboyega Oyetola, and several governors stormed Osogbo for the mega rally.
Despite that, APC leaders were seen leaving the state late Saturday as results tilted heavily against them.
“This was a referendum on performance, not party structure,” a political analyst in Osogbo said. “Osun people voted for continuity.”
—ADELEKE’S VICTORY SPEECH—
While INEC had yet to issue the Certificate of Return at press time, celebrations had already erupted in Ede, Adeleke’s hometown.
Supporters were seen dancing in the streets chanting “Imole ti de.”
Adeleke, who defected from PDP to Accord Party earlier this year, campaigned on consolidating his welfare programmes, infrastructure projects, and grassroots empowerment.
With 95.85% of results uploaded to IReV by 1:33am Sunday and collation now complete, INEC is expected to issue Adeleke his Certificate of Return in the coming days.
For the APC, the loss raises urgent questions ahead of 2027.
If a “must-win” state with full federal backing can be lost by over 66,000 votes, the party’s 2027 playbook may need a rewrite.
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