AgroChemical sector loses $180m to multiple regulations yearly
Over$180m is lost yearly by Nigeria’s Agro-chemicals industry to multiple tariffs, paid to various regulating agencies, contrary to what obtains in other countries.
Consequently, stakeholders have warned that if the Federal Government does not urgently address the issue, it is capable of plunging the country into food crisis, as the multiple levies would lead to high cost of food.
This alarm was raised at the weekend by Croplife Nigeria, the umbrella body of agro-chemical industries in the country, at a briefing in Lagos. The body said its members are subjected to strenuous registration process, as well as, heavy payment to get licence and other documentations.
President, Croplife Nigeria, Mahmood Tauhid, said FG’s resolve to tackle food insecurity, which has started yielding results, may not be sustained due to multiple problems facing the agric sector.
He said: “It is unfortunate that by the time we finish a process, another agency shows up. As critical as agriculture is in the food processing sector, all these levies lead to high prices of food.”
He, therefore, appealed to the Federal Government to ensure that the issue is addressed.
The General Secretary, Dr. Abdullahi Ndarubu, who disclosed that Croplife’s business is worth $600m yearly, said multiple regulations have resulted in the industry recording more than 30 per cent losses yearly.
He noted that as more youth and women are gradually returning to the sector, if the constraint is not addressed, the potential of getting a reasonable population of this category of Nigerians might be destroyed.
No comments yet