Rice: From Aliero to Akinwumi

The Chairman of the Committee on Public Finance and Revenue Generation, Adamu Aliero, has made a case for reduction of the heavy tax placed on imported rice. The former Kebbi State governor said, as a farmer, he was aware indigenous farmers and millers of rice could not satisfy the local demand in Nigeria. He argued that reducing the heavy burden of taxation on rice would be better for the economy.

He said, “The 110 per cent duty placed on rice is very unwise, because our neighbours have cashed in on this and lowered their tariff. At a point, there were 30 ships loaded with rice waiting to berth in Benin ports; those bags of rice are coming to Nigeria but the revenue is going to another country.

“We have advised the Minister of Agriculture, Adeshina Akinwumi, that the tariff should be reduced to discourage smuggling. The policy is not working, it is counterproductive and not helping the nation.”