Nigeria: FG Loses Billions Annually To Iron, Steel Smuggling - Khorgist.com

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Wednesday, 22 May 2019

Nigeria: FG Loses Billions Annually To Iron, Steel Smuggling


The introduction of the Destination Inspection (DI) system of inspecting imported goods by the Nigerian Customs Service (NCS) some years ago, is costing the nation a whopping N52 annually arising from smuggled iron and steel products alone.The Galvanised Iron and Steel Manufacturers Association (GISMA), which raised the alarm at a news conference in Abuja, yesterday, said smugglers are taking advantages of the weaknesses in the DI system to smuggle in substandard iron and steel materials into Nigeria.
Reacting to the GISMA allegation, the Chairman, Presidential Committee on Trade Malpractices, Mallam Dahiru Ado-Kurawa, said his Committee will immediately swing into action and investigate the alleged trade malpractice.His words: “In a short while ago, our committee put up an advert commencing investigation into the importation of galvanised roofing sheets. We have quite a few companies that import such products. We are looking at the imports that have happened. It is difficult, but we have our ways that we can still determine what would have been imported at that time. It is very excruciating, and tedious; it would have been very easy if we have very honest and trusted people safeguarding our interest, determining that these are not the products that are supposed to come in. But when such does not happen, we back track, check the documents, companies and hopefully get to the bottom of the matter.

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