Taiye Odewale Abuja
Senate disclosed yesterday that goods worth N7trillion are smuggled into the country on yearly basis .with attendant annual turnover in the hands of smugglers far more than annual federal budget. Th is was even as it said that 282 vessels were missing at various ports across the country between 2010 and 2016 and charged the Nigerian Ports Authority, NPA offi cials to appear before it on Th ursday to explain how they got missing and other issues, especially persistent smuggling through the nation’s ports. Chairman, Senate Committee on Customs, Excise and Tariff s, Senator Hope Uzodinma (PDP Imo West), who gave the hint at a one-day public hearing on smuggling in the country held in Abuja, said “the fi gure for goods smuggled through the Sea Ports is more mind burgling”. He added that report has it that over $15 billion or N4.35 trillion worth of goods are smuggled into the country each year through the sea ports while the story is the same for our International Airports.
“More shocking is an aspect of the World Bank report that states that over 25percent of the total annual revenue collected by custom service is lost to smugglers each year. If you go by the projected revenue of the service for this year which is approximately N600 billion, it means that the service will lose about N200billion in revenue this year alone. “You must then agree with me that smuggling is a serious menace to the economy and that all hand must be on deck to fl ush it out. As you know when goods are illegally brought into the country through smuggling, it is not just revenue that is lost, local industries are aff ected adversely and jobs are lost.
“When our markets are fl ooded with all manner of smuggled goods from our borders, many local industries that manufacture such goods are forced to close down”, he further lamented. Senator Uzodinma, however, said the investigation was designed by the 8th Senate in its determination to put an end to the smuggling malady. “For the avoidance of doubt, smuggling is a major threat to the economy. Th ose who may imagine that this is an exaggeration should do well to refer to a recent report of the World Bank on smuggling in Nigeria. “Th e report was unequivocal in stating that an astonishing US $5billion or N1.45trillion worth of diff erent goods are smuggled into Nigeria annually through Benin Republic alone. Yet this is only 15 percent of the total volume of smuggled goods through the Seme border”, he said.
