By Eze Okechukwu, Abuja

The costs of Import Duty Exemption Certificate (IDEC) approvals on some imported goods and equipment, which commenced in March 2020 climbed up to N34trillion,  five years afterwards, with the policies of government at different times affecting the revenue generating capacity of Customs positively or otherwise.

The Comptroller-General of Nigeria Customs Service (NCS), Bashir Adewale, who made the declaration yesterday in Abuja during an investigative session with the Senate Committee on Finance, revealed that Customs, as a leading revenue generating agency would have generated far above the figure, but for some government policies and other extraneous factors that inhibited it.

He specifically informed the Committee that Import Duty Exemption Certificates (IDEC) on some goods and equipment introduced in March 2020 was one of such policies inhibiting Customs revenue generation.

“IDEC approvals reached about ₦34 trillion in 2025.  60% of it was rightly done by the government as it relates to military hardware procurements. The hardware attracted duty exemptions because of Nigeria’s prevailing security challenges.

“Other government-backed waivers, included Importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, Healthcare equipment and medical supplies; Industrial machinery and manufacturing inputs and

Food import intervention programmes”, he said.

He however explained that fiscal policy should not be viewed solely from the perspective of revenue generation but also in terms of achieving broader economic and social objectives but suggested that government should establish stronger monitoring mechanisms to assess whether beneficiaries of duty waivers were delivering the intended economic benefits, such as lower prices, increased production and improved healthcare access.

In his submission, he said out of the N11.04 trillion revenue projected for 2026, N4.5 trillion was generated by 30th of June, leaving the balance of about N7 trillion as the set target for the fiscal year.

However, Bello Gulmare who represented Fiscal Responsibility Commission (FRC) as Deputy Director, Monitoring &: Evaluation, alleged that Customs as at 2019, has N8.9billion liability of non – remittance of operating surplus into the Consolidated Revenue Fund (CFR), which was vehemently kicked against by Customs.

Similar liability on non-remittance of operational surplus was made to the Corporate Affairs Commission (CAC), totalling N13.9billion from 2023 to 2025 which the Registrar – General of CAC, Hussaini Ishaq Magaji said was being upset gradually. 

The Committee chaired by Senator Sani Musa (Niger East) however directed that CAC, the FRC and the Committee should hold a meeting to reconcile the details in order to ascertain the exact outstanding balances.

“Detailed report on outcome of the planned meeting, should be ready within the next two weeks for another interface with CAC.

“Heads of agencies like NCAA , ITF , SMEDAN , FMC Jabi etc who failed to physically attend today’s session should unfailingly make themselves available at next sitting or risk severe sanction through invocation of relevant section of our rules against them”, he warned.

By David Torough, Abuja

President Bola Tinubu on Monday declared that the legacy of former President Muhammadu Buhari, built on integrity, discipline, honesty and selfless service, will continue to inspire generations of Nigerians, as eminent Nigerians gathered in Abuja to mark the first anniversary of the late leader’s passing.

Represented by Vice President Kashim Shettima at the memorial, Tinubu said Buhari remained one of the few Nigerian leaders whose popularity and the trust of ordinary citizens endured beyond his years in office because his private life reflected the values he publicly espoused.

“The life he lived is not a life this nation is capable of forgetting,” the President said, describing Buhari as a patriot who served Nigeria with courage and conviction, first as military Head of State and later as a democratically elected President.

Reflecting on their political journey, Tinubu recalled that he and Buhari were “Co-travellers on the long road of politics and national development,” united by a shared vision of building a peaceful, united and prosperous Nigeria.

He urged Buhari’s associates, supporters and mentees to preserve the values that defined the late President’s public life.

“Our duty is to carry forward the inheritance he left us—honesty, simplicity and self-discipline,” Tinubu said, adding that Buhari’s greatest legacy was the enduring trust he earned from Nigerians through consistency, integrity and a life of service.

The President also assured the Buhari family, particularly former First Lady Aisha Buhari and their children, of the Federal Government’s continued support and prayers.

Shettima disclosed that Tinubu demonstrated deep concern during Buhari’s final illness in London by directing him to visit the former President in hospital and ensure he lacked nothing, describing it as one of the greatest honours of his public service to later accompany Buhari’s remains back to Nigeria after his death.

Former Head of State, Gen. Yakubu Gowon, described Buhari as a gallant soldier and nationalist whose commitment to Nigeria’s unity never wavered.

Tracing their relationship to their military days, Gowon said Buhari’s eventual emergence as President in 2015 became possible through his political alliance with Tinubu after three unsuccessful presidential bids.

According to him, Buhari later reciprocated Tinubu’s support by standing firmly behind his emergence as the APC presidential candidate and eventual successor in 2023.

Gowon also dismissed claims that Buhari governed only in the interest of Northern Nigeria, insisting that the late President treated every part of the country fairly.

Recalling the 2015 general election, he praised both Buhari and former President Goodluck Jonathan for their statesmanship, noting that Jonathan’s early concession and Buhari’s gracious acceptance helped Nigeria avoid a post-election crisis.

Chairman of the Central Planning Committee and former Secretary to the Government of the Federation, Boss Mustapha, described the memorial as an opportunity to preserve for future generations the memory of a leader whose unwavering sense of duty defined his years in public service.

Katsina State Governor Dikko Umar Radda, represented by Deputy Governor Faruk Lawal Jobe, said Buhari’s legacy extended beyond politics to infrastructure, agriculture, security and social development, urging Nigerians to uphold the values of accountability, honesty and national unity.

Speaking on behalf of the family, Buhari’s daughter, Safina Buhari, thanked Nigerians for honouring her father, saying his life was defined by faith, humility, patriotism, integrity and discipline.

She announced that proceeds from the book From Soldier to Statesman: The Legacy of Muhammadu Buhari had been donated to Al-Qalam University, Katsina, for the construction of a Computer Science Complex in fulfilment of the late President’s commitment to education and human capital development.The memorial attracted a broad spectrum of political, traditional and public figures, including former First Lady Aisha Buhari, governors, former ministers, traditional rulers and other dignitaries, who paid glowing tributes to the late President’s years of public service and enduring impact on Nigeria’s political history.

By David Torough, Abuja

The management of Sigvent Industrial Cluster has commended the Federal Government and security agencies for the successful rescue of citizens abducted in the Ogbomoso axis of Oyo State, describing the operation as a major boost to investor confidence and business security.

In a statement, Founder and Chief Executive Officer of Sigvent Industrial Cluster, Benjamin Onigbinde, praised President Bola Ahmed Tinubu, the Nigerian Army, the Nigeria Police Force, the Department of State Services (DSS), and the Oyo State Government for what he described as a swift and coordinated rescue effort.

According to Onigbinde, the operation demonstrates the government’s commitment to protecting lives and economic activities, reassuring investors, farmers and development partners involved in the cluster’s projects.

“The speed and coordination of this rescue sends a strong signal that Ogbomoso is secure and that the government will protect lives and livelihoods. For investors, this is confidence. For farmers and our foundation partners deploying resources to Sigvent Cluster, this is assurance that their people and assets are safe,” he said.

Sigvent Industrial Cluster is developing an agro-processing industrial hub in Ogbomoso, with planned facilities for cashew, cassava, soya and mango processing, as well as logistics hubs and a Research and Innovation Centre. The project is designed to support the Federal Government’s agriculture industrialisation, food security and global trade agenda.

The company noted that the initiative aligns with the Federal Government’s Industrial Plan 2026 and cited the endorsement of the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, who reportedly described the project as having the “potential to become one of the biggest clusters in Africa.”

Onigbinde also stressed that security remains a critical factor in attracting investment.

“Main drivers of ease of doing business are security, policy consistency and infrastructure. The Federal Government has delivered on two of the three, while Sigvent Industrial Cluster and our partners are delivering on the third,” he said.

The company e