23 November 2012

Nigeria: Country Loses N32 Billion to Rice Smuggling in 10 Months

Lagos — Rice Millers, Importers & Distributors Association of Nigeria (RIMIDAN) has said that over N32 billion was lost by the country between January and October this year due to the smuggling of rice, its chairman, Mr. Tunji Owoeye said in Lagos.

He said half of 3.7 metric tones of rice imported are smuggled into the country, despite its vigorous campaign against the exercise.

He said the spate of the smuggling is threatening its members' investment in plants, machinery and equipment which stands at N200 billion at the middle of this year.

The association's members contribute up to 84 per cent of the 1.8 million metric tones of rice produced in the country.

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