Reps probe revenue performance as Customs flags N3 trillion shortfall

Concerns over revenue shortfalls took centre stage on Tuesday, as the House of Representatives Committee on Finance began oversight sessions with key federal revenue-generating agencies in Abuja.

The review focuses on revenue performance, policy implementation and remittances into government accounts amid efforts to strengthen fiscal accountability.

Appearing before the committee, the Nigeria Customs Service disclosed that several projected revenue items in the 2026 budget remain unimplemented.

Comptroller-General Bashir Adeniyi told lawmakers that about N3 trillion in expected excise duty and related collections have not been realised.

He explained that collections of excise duties on selected products, including soft drinks, telecommunications services, and certain plastic products, were suspended following public complaints.

“There is still a hanging issue regarding the Finance Act,” Adeniyi said. Adding, “If fiscal policy remains the same, we cannot project revenue from items whose collection is suspended.”

When asked whether the issue was escalated to the President, he responded: “We do not make a case to the president. If policies are hanging, it is for us to implement them.”

The committee advised the Customs boss to formally inform its chairman of the pending matters for legislative follow-up.

CAC Defence Adjourned Over Data Gaps

The session with the Corporate Affairs Commission has been postponed after its Registrar-General, Hussaini Magaji, was unable to provide updated figures on registered companies nationwide.

Lawmakers expressed concern over inconsistencies in the data presented.

Committee member Stanley Adedeji described the performance as unacceptable.  “You should not stand before us without factual records. If you cannot speak accurately, we should step you down and summon you on another day,” he said.

The committee unanimously resolved to suspend the defence and directed the CAC to return next Tuesday with comprehensive and verifiable data on company registrations and revenue performance.

FAAN Pushes Cashless Revenue Collection

The Federal Airports Authority of Nigeria outlines reforms to improve revenue transparency.

Managing Director Olubunmi Kuku informed lawmakers that FAAN is implementing a fully electronic payment system across airports to curb leakages.

“This initiative is about accountability and sustainability. We are ensuring that every kobo due to the federal government is collected while improving operational efficiency,” she said.

Kuku noted that the transition to a cashless system began in mid-2025 with stakeholder sensitisation and public awareness campaigns.

She acknowledged temporary congestion at some toll gates but says adjustments are ongoing. FAAN now provides multiple electronic payment options, including e-tags, ATM cards and FAAN-issued cashless cards.

Background

The House Committee on Finance, chaired by James Faleke, is reviewing revenue performance across Ministries, Departments and Agencies (MDAs).

The exercise forms part of the National Assembly’s broader fiscal oversight efforts to enhance internal controls and ensure the accurate remittance of public funds.

Revenue mobilisation remains critical as the federal government seeks to improve non-oil income streams and strengthen budget implementation.

Lawmakers indicate that follow-up sessions will continue in the coming weeks to ensure compliance and accountability.