Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Nigeria losing billions on agro-duty waivers

31 July 2015, 10:02

Abuja - The Federal Government is losing N71 billion annually on duty waivers especially to importers of food, a senator said as the House urged the Federal Government to stop all waivers on rice importation and the issuing of waivers on all agriculture products.

The upper chamber of the National Assembly has thus established an ad-hoc committee to look into all waivers and concessions and grants.

The developments follow a motion sponsored by Senator Rafiu Ibrahim, representing Kwara South.

Ibrahim noted that the Federal Government has a policy to encourage Agriculture and Agriculture business as a deliberate policy to diversify the economy.

He observed that the policy, especially relating to agriculture, had become significantly eroded by the indiscriminate abusive grant of waivers, concessions and grants especially on rice importation.

“The flagrant abuse of the waiver scheme has severely eroded the Federal Government’s Rice Production Policy by importing huge quantities of the commodity in excess of the their approved quota,” Ibrahim said.

Also read: Buhari set to focus on agriculture

The Senator added that some of the defaulting companies had notwithstanding their default were awarded fresh waivers to import more within the last few days of the previous administration.

“This lose of vast amount of revenue at a time when Nigeria’s main source of revenue has plunged to record lows impacting on the fiscal stability of the country is reckless and does not show that we are serious about driving our economic revival,” he said.

Most Senators in their contribution supported the motion. Senator Philip Aduda who seconded the motion said the waivers have undermined the development of the local economy. Senator Dino Melaye alleged that there is collaboration between officials of the Nigeria Custom and that of Ministry of Finance in the perpetuation of the crime.

Earlier this week, the Nigeria Customs Service allayed any fears among rice importing companies following the sealing off of four warehouses of some defaulting importers.

- CAJ News


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...