September 2, 2016 
A total N215 billion in import duty exemptions was granted in four years, between 2011 and May 2014 under the leadership of ex-President Goodluck Jonathan, according to Premium Times.
Most of the waiver deals, it was gathered, were sealed during midnight visits to the presidential villa.
Data obtained from the Budget Office of the Federation detail a fiscal policy recklessness that made duty waivers in Nigeria synonymous with cronyism, racketeering, political patronage and outright brigandage.
In 2011 the sum of N56 billion was issued by the Federal Government as waivers on import duties, levies, ECOWAS Trade Liberalisation Scheme (ETLS) charges, Comprehensive Import Scheme (CIS) and other charges.
The waiver beneficiaries included operators and individuals in the gas sector, agriculture, health, mines and steel and “other sectors”.
Whilst some of the waivers may have been well-meaning and granted for the purposes of stimulating local production, economic growth and job creation, the data, riddled with red flags, show that some of those who benefited did not deserve such concessions.
For instance, a steel company, Verod,was granted a fabulous N12.6 billion in waivers to import iron rods. In applying for the waiver, the only reason given by this company, owned by a foreign businessman, was “compassionate grounds”. Curiously this waiver was granted weeks before the 2011 presidential election…Click here To Read More
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