Nigeria, Feb. 18 -- The House of Representatives Ad Hoc Committee on the Review of Tax and Export Incentives, Waivers and Exemptions has raised concerns about what it described as massive revenue leakages, estimating that Nigeria loses about N8 trillion annually to concessions and fiscal incentives.

The Chairman of the 19-member panel, James Faleke (APC, Lagos), said the committee has begun a structured and phased investigation into the administration of tax incentives, export grants, waivers and exemptions granted by the federal government between 2015 and 2025.

The committee was constituted following the adoption of a motion with a mandate to probe revenue losses linked to the schemes and recommend policy and legislative reforms.

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