FG Loses N603.2bn To Waivers, Credit Certificates.

The federal government has so far lost a whopping N603.2billion to import duty exemption, waivers on petroleum products and increased duty on imported rice in its bid to encourage local rice production and incentivise the agriculture sector.

Disclosing this to the joint Senate Committee on Finance and Appropriation yesterday in Abuja, the comptroller-general of Nigeria Customs Service, Dikko Inde, said the Customs Service has so far recorded a shortfall of 43 per cent in revenue collected in the course of the year, and blamed government policies for the revenue loss.READ THE REST HERE....http://