Nigeria loses $250m revenue yearly to disincentives in agro-export produce

Extortion, harassment and multiple charges from aviation and other agencies at the airport are causing Nigeria a yearly revenue loss of over $250 million.

The huge revenue would have accrued from deepening participation in the nation’s air freighting of agro-cargo export produce.

The Director General/Chief Executive Officer of the Nigerian Export Processing Zone Authority (NEPZA), Prof. Adesoji Adesugba, said this in a paper he presented at the second edition of the Aviation and Cargo Conference (CHINET 2022) at the weekend in Lagos.

Adesugba said government agencies at the airports erected many obstacles which constitute a disservice to the export/import of agro-cargo produce in the country.

Until these hurdles are crossed, he said, government efforts to attract more revenue into the gross domestic product (GDP) will not materialise.

He said: “Among the 16 sundry charges tracked for goods coming in or departing the country via airports, only five are officially recognised. Nigeria’s import-to-export airfreight ratio imbalance stood at 87:13 from available statistics.

“The implication, according to cargo agencies, is the loss of at least about $250 million on agro-export produce to the country.”

(THENATION)

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