Thisday|| The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, yesterday announced that consultations are ongoing between President Goodluck Jonathan, the Minister of Agriculture and Rural Development, Dr Akinwumi Adesina and her ministry, over the review of the current rice tariff policy in the country.
Okonjo-Iweala made the statement in Lagos at an interactive session with members of the Manufacturers Association of Nigeria (MAN), which attracted all key manufacturing companies in the country.
According to her
“The 100 per cent duty and 10 per cent levy on rice has led to an increase in the nation’s rice output especially in the North and it has created jobs but it has also caused a significant reduction in customs revenue and has been largely hijacked by smugglers and neighbouring countries,” she said.
“So we are reviewing the rice duties policy and we are discussing with the president and the minister of agriculture,” she added.