Due to the high import duty in Nigeria, rice is brought in enroute Benin and Togo. The Nigerian Customs Service appears to be helpless as this trend continues to the benefit of the two West African countries.
The illegal way of moving goods across borders is eating deep into Nigeria, crippling the country’s economy. Last year alone, the country was said to have lost a whopping N16.3billion to the nefarious activities of smugglers whose population is increasing.
Besides, observers say the federal government’s loss owing to unlawful importation of rice through the nation’s land borders may peak at N50 billion in the near future should the status quo remain.
Headed towards Collapse
3 weeks ago