• As investor raises concern over high import duty on agric equipment
An investor has raised concern over high import duty on agricultural implements, claiming they pay a whooping sum of N15million to clear a container load of tractors from the port.
The aggrieved investor lamented that Nigeria has the highest import tariff rate on agricultural implement in the world, as it cost them as high as N15m to clear a container with three tractors, as against N2m for the same container two years ago.
The Chairman of Eurobase and Consult Limited, Mr. Don Ekesiobi, while briefing journalists on the upcoming Special Agro Equipment and Technology Expo next month, said the expo was put together to replicate the success of agro projects seen in Western and Asian countries that have achieved self-sufficiency in food production and boast significant volumes of exported agro produce.
He said the declaration of emergency on the nation’s food security by the President must be holistic enough by ensuring the removal of import duty on agriculture equipment until the country is more self-sufficient in food production or better still, until there are enough assembly plants to produce these implements in the country.
Ekesiobi mentioned that Eurobase Consult Limited has partnered foreign investors across 20 international agro Original Equipment Manufacturers (OEMs) in a move to address Nigeria’s mechanisation deficit to bolster sustainable food security.
He noted that the collaboration was aimed at introducing cutting-edge agro equipment and technology to the Nigerian agricultural sector with a promise of transformative impact on food production and export capabilities.
Ekesiobi stated that the company serves as the local partner and country representative for these OEMs investors from Israel, India, China, Thailand, Indonesia, South Africa, the USA, Brazil, Holland, and other nations to position Eurobase as a one-stop-shop for all agro equipment and farm technology needs in Nigeria.
He further lamented that companies are afraid to invest in Nigeria’s agriculture sector because of high charges by NAFDAC, saying to register agricultural products in Nigeria, one have to pay “nothing less than N2m and also pay as high as $11,000 for them to go and check their factories abroad.”
Ekesiobi also lamented that insecurity has seriously impacted on agriculture and even stopped foreign investments, urging the Federal Government to eliminate insecurity in Nigeria so that the agricultural sector can boom again.
He however, alleged that government agencies that are supposed to facilitate foreign trade in the country are creating bottlenecks in the system, giving an instance of NAFDAC.
