Tuesday, July 27, 2021

    Renewed Smuggling Threatens N3.4tr Rice Investment in the Processing Sub-sector- RIPAN

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    Godwin Okaforhttps://naija247news.com
    Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

    …13m jobs may be lost

    The renewed foreign rice smuggling into the Country is threatening the N3.4 trillion investments in rice processing sub-sector of the economy, the Director General of the Rice Processors Association of Nigeria (RIPAN) Mr Andy Ekwelem has said.

    Mr Ekwelem, who disclosed this at a news conference held in Abuja weekend, warned that if not checked, the gains already recorded may be eroded just as over thirteen (13) million jobs may be lost in the rice value chain.

    He said imported rice has flooded Nigerian markets despite the ban imposed on the product by government to encourage local production and self-sufficiency.

    He called for the criminalization of the possession and sale of foreign rice in the country, adding that renewed fortification of our borders by the customs and other security agencies would go a long way in checking the rising trend.

    According to him, the new trend is now a source of concern not only to processors who are struggling to compete with their counterparts abroad in terms of quality, but also to growers who are apprehensive that if the trend continues, may be forced out of business.

    However investigations have revealed that the recent reopening of some land borders has aggravated the illegal importation of the commodity.

    President Muhammadu Buhari had in December, 2020, directed that the four land borders that were closed in 2019 be reopened, precipitating the current upsurge in the illegal business.

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