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Nigeria loses N250billion on agro exports – Senate

by Shamsudeen Danmallam
September 29, 2021
in Business Scene, Lead of the Day
0
Nigeria loses N250billion on agro exports – Senate
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The Senate on Wednesday said Nigeria is losing about N250 billion on agricultural produce exports due to delay and illegal charges on cargo transport by freight agents.

The lawmakers therefore began moves to eradicate the multiple charges and delay across the country.

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The decision to end multiple charges on cargo processing and transport was reached by the upper chamber in a resolution, following consideration of a motion during plenary on Wednesday.

The motion tilted: “The need to streamline Import and Export Cargo Processing in the Aviation Sector” was sponsored by Senator Bala Ibn Na’Allah (Kebbi South).

Rising under Order 42 and 52 of the Senate Standing Rules, Na’Allah noted with dismay the loss of about N250 billion on agro-export of produce in the country.

He said the loss which translates to a ratio of 87:13 continues to impact negatively on the country’s economy.

Na’Allah noted that there are about 16 sundry charges for goods coming in or out of the country – with 16 in Lagos and 15 in Abuja – and many of them being unofficial and illegal.

He lamented that loading 100 tons of cargo on aircraft cost around $35,000 in Nigeria, compared to Ghana that cost just about $4,000.

He said, “this has caused substantial damage to the Federal Government efforts of stimulating Capital Inflow”, adding that, “airlines involved in cargo transport have started avoiding Nigeria in view of the prohibitive charges.”

The Senate mandated its Joint Committees on Trade and Investment, Agriculture and Rural Development, and Aviation and Customs to invite stakeholders and Freight Agents to come with acceptable template of processing Nigeria’s Imports and Exports.

Tags: agricultural producecargo transportexportsSenate

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