Monday, 17 July 2017

Senate moves to end smuggling.

The Senate through it's Committee on Customs organized a Public Hearing with key stakeholders to discuss how to end smuggling in Nigeria.

The senate president after the meeting said that smuggling is a very serious issue. It's the greatest threat to small holder farmers.

If this threat is not addressed, it can affect the farmers who has taken loans, from CBN and banks. When rice is smuggled into the country, farmers can't sell their local produce and when they can't sell, they can't make money to pay their loans.

He concluded on his twitter account that as a nation we've invested $7bn in 10 years in stimulating local rice production, If we do not address smuggling, this investment will be wasted.

The 8th senate is looking for ways to partner with key stakeholders e.g. customs in their fight against smuggling.

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