L
LequteMan
Guest
Mr Bolaji Akinola, Spokesman, Seaport Terminal Operators of Nigeria (STOAN), on Friday urged the Federal Government to review the policy on rice importation in the interest of the nation’s economy
He said that Nigeria was losing an average of N1billion daily to the subsisting policy on rice importation and the attendant high level smuggling of the commodity into the country.
“Before January 2013, rice importers paid a 60 per cent duty, but when it was increased to 110 per cent importers shun Nigerian ports for neighbouring countries.
“No rice vessel has berthed at any port in Nigeria in close to a year now. What that means is that government is losing revenue that the Customs should have collected.
“The vessels just go to neighouring ports where they will pay far less duty and the smugglers end up bringing the same rice into the country illegally,” he said.
He added that the policy has affected the revenue of the Apapa Command of the Nigeria Customs Service from rice import.
Akinola said the Command had so far collected only N11 million as duty on rice as against what it used to be.
He said that Nigeria was losing an average of N1billion daily to the subsisting policy on rice importation and the attendant high level smuggling of the commodity into the country.
“Before January 2013, rice importers paid a 60 per cent duty, but when it was increased to 110 per cent importers shun Nigerian ports for neighbouring countries.
“No rice vessel has berthed at any port in Nigeria in close to a year now. What that means is that government is losing revenue that the Customs should have collected.
“The vessels just go to neighouring ports where they will pay far less duty and the smugglers end up bringing the same rice into the country illegally,” he said.
He added that the policy has affected the revenue of the Apapa Command of the Nigeria Customs Service from rice import.
Akinola said the Command had so far collected only N11 million as duty on rice as against what it used to be.