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Tuesday 18 October 2016

$3bn Nigeria-bound Rice Rots Away in Benin Republic



According to a report from Today, some rice worth $3bn is rotting away in Benin republic as the Nigeria Customs service has banned importation of rice into the country through land borders.
An estimated $3 billion bags of rice destined for the Nigerian markets are stuck in various warehouses in Benin Republic due to the Federal Government’s refusal to allow importation through land borders and fierce customs anti smuggling drive.

The annual routine of importing rice into the neighbouring country from July to December to make massive sales in Nigeria during Yuletide period has hit a brick-wall this year as Controller General of Customs, Colonel Hameed Ali has insisted that his men have tightened the frontiers.

Nigeria shares major border frontiers with Benin Republic at Seme Border (Lagos), Idiroko (Ogun), Shaki (Oyo),Chikanda (Kwara) and other smaller openings. Prominent among them is Seme where the highest volume of trade and largest smuggling opportunity exist because of its easy access to Lagos, Nigeria’s commercial capital city.

Read full report Here

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