The Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has raised serious concerns over alarming reports that more than 75% of goods imported for Nigeria are now being offloaded in the Benin Republic, bypassing Nigerian ports entirely.
Speaking on Wednesday during a meeting with the Presidential Enabling Business Environment Council (PEBEC), Abbas lamented that administrative bottlenecks in Nigeria’s maritime and border operations are driving international trade away, costing the country huge revenues and investor confidence.
“We Must Fix the System or Continue Losing Out” — Abbas Warns
Citing complaints about customs bureaucracy, excessive port clearance delays, and high import duties, Speaker Abbas stressed that Nigeria’s harsh business environment has made it more attractive for importers to route goods through neighboring countries with friendlier systems.
> “It’s disheartening that while other West African nations simplify trade processes, Nigeria complicates them. Our ports and customs processes are driving away businesses. The cost of importing goods into Nigeria is, in some cases, double that of neighboring countries. This must change,” Abbas said.
He recalled a recent visit to Morocco where Nigerian trade inefficiencies were openly criticized, underscoring the need for urgent reforms to restore Nigeria’s competitiveness in regional and global trade.
House of Reps Pledges Legislative Action
In response to PEBEC’s appeal, Speaker Abbas assured the council that the House of Representatives will prioritize legislative interventions aimed at easing the challenges faced by businesses and foreign investors, particularly around:
Enforcement of the Financial Reporting Council of Nigeria (FRCN) Act
Protection of investments in Free Trade Zones
Streamlining regulatory processes in maritime and port operations
“We will take immediate action to address these barriers. Nigeria must honour its agreements and create an enabling environment for investors. This is critical for economic growth,” he assured.
PEBEC Seeks House Intervention on Regulatory Conflicts
PEBEC’s Director-General, Princess Zara Mustapha Audu, presented an official request from the Vice President’s Office, seeking the House’s intervention in resolving ongoing conflicts between the FRCN and private sector operators.
She highlighted that PEBEC oversees 69 Ministries, Departments, and Agencies (MDAs) related to economic activities and stressed the need for legislative backing to tackle persistent regulatory challenges.
> “There’s an urgent need to harmonize the regulatory landscape to foster a more business-friendly Nigeria. The private sector continues to face avoidable hurdles that hamper economic growth,” she noted.
Conclusion: A Call for Competitiveness
The Speaker’s address underscores a critical call to action: Nigeria must reform its trade and business environment or continue to lose out to neighboring economies. With the House of Representatives set to review and address these challenges, stakeholders await concrete steps towards revitalizing Nigeria’s economic competitiveness.
Credit: Nairametrics
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