The House of Representatives is to investigate all investor companies involved in rice importation under the new policy to determine, it emerged yesterday.
The investigation was prompted by the violation of the policy by three major companies found to have exceeded their approved quota.
The three companies were also alleged to have evaded payment of import duties to the Federal government to the tune of about N43 billion.
The investigation is expected to ascertain the exact amount owed government by the affected companies.
In addition, the investigation would ascertain the approved quota for each importer against their excess imports in metric tons.
Appropriate measures for recovering the debt would also be recommended by the investigation panel.
The decision of the lawmakers followed the adoption of the prayers of a motion by Simon Arabo (PDP, Kaduna) who accused major importers of conniving with foreign investors to undermine the nation’s economy.
He said: “Stallion Group, Popular Foods and Olam Nig Ltd in collusion with their foreign investors have imported rice exceeding their approved quota and thus owe the Federal government about N28,399b.
“Stallion Group and Popular Foods with an unpaid outstanding import duty of over N15b has imported another 85,000mts of rice into the country.
“The actions of the companies are capable of scuttling the country’s self-sufficiency drive in rice production and act and also deny the Federal government the needed revenue on import duties”.
The motion was unanimously adopted when it was put to voice vote by the Speaker, Aminu Tambuwal.
When The Nation contacted the Director, Corporate and Government Relations, Olams Nigeria Limited, Mr. Ade Adefeko, he said his firm has not been contacted formally, hence, there is nothing to say for now. “We have only heard it in the news like every other person; We, as a company, have not received any official communication on this matter. If we are officially notified, then we will respond either orally, or in writing and if need be, we are willing to appear before the honourable House physically,” Adefeko said.
The report on the investigation is expected to be turned in three weeks.
The three companies were also alleged to have evaded payment of import duties to the Federal government to the tune of about N43 billion.
The investigation is expected to ascertain the exact amount owed government by the affected companies.
In addition, the investigation would ascertain the approved quota for each importer against their excess imports in metric tons.
Appropriate measures for recovering the debt would also be recommended by the investigation panel.
The decision of the lawmakers followed the adoption of the prayers of a motion by Simon Arabo (PDP, Kaduna) who accused major importers of conniving with foreign investors to undermine the nation’s economy.
He said: “Stallion Group, Popular Foods and Olam Nig Ltd in collusion with their foreign investors have imported rice exceeding their approved quota and thus owe the Federal government about N28,399b.
“Stallion Group and Popular Foods with an unpaid outstanding import duty of over N15b has imported another 85,000mts of rice into the country.
“The actions of the companies are capable of scuttling the country’s self-sufficiency drive in rice production and act and also deny the Federal government the needed revenue on import duties”.
The motion was unanimously adopted when it was put to voice vote by the Speaker, Aminu Tambuwal.
When The Nation contacted the Director, Corporate and Government Relations, Olams Nigeria Limited, Mr. Ade Adefeko, he said his firm has not been contacted formally, hence, there is nothing to say for now. “We have only heard it in the news like every other person; We, as a company, have not received any official communication on this matter. If we are officially notified, then we will respond either orally, or in writing and if need be, we are willing to appear before the honourable House physically,” Adefeko said.
The report on the investigation is expected to be turned in three weeks.
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