Business
Senate Chides Committee For Poor Oversight, Approves N257bn Customs Budget

The Senate has accused its committee on Customs, Excise and Tariff of not carrying out a proper oversight on the Nigerian Customs Service.
The red chamber said the poor oversight accounted for the poor revenue generated by the NCS in the 2020 fiscal year.
The Senate gave the condemnation at plenary on Wednesday when it considered the report of its panel on Customs, Excise and Tariff on the 2021 budget presented by the chairman, Senator Francis Alimikhena.
Despite the sweeping condemnation of its panel, the Senate, nevertheless, approved the sum of N257.18bn as budget for the Nigeria Customs Service for the 2021 fiscal year.
Alimikhena had in his presentation said out of the amount budgeted for the NCS in the 2021 financial year, the sum of N99.72bn was earmarked for personnel cost.
He also said N19.53bn was voted for overhead and N137.93bn for capital cost.
The senator said the committee increased the NCS revenue target from N1.47bn to N1.68bn.
He said, “In the 2021 fiscal year, the NCS revenue target was pegged at N1.47tn comprising of N1.27tn for Federation Account and N197.99bn for Non-Federation Account respectively.”
He said the NCS expected revenues were from the seven per cent cost of collection for 2021 projected at N111.57bn; two per cent VAT share of NCS – N7.5bn; 60 per cent share of CISS – N47.01bn; and Retained Earnings for Ongoing Projects, 2020 – N91.1bn.
The Senate President, Ahmad Lawan, expressed his disappointment at the committee’s performance in terms of oversight.
Lawan said, “Chairman, I think you need to upscale your oversight on the Customs because these narratives that they will keep money, they will not do budget implementation is as a result of insufficient oversight.
“We need to be aware of all these things in good time.
”You need to report back to the Senate on what is happening and then advise them on what is appropriate and legal as far as the implementation of the budget is concerned.
“We are not supposed to be hearing these things now; so improve on your oversight”.
Senators took turns to point out what they called bogus and illegal votes in the proposed budget for the NCS.
Senator Sam Egwu objected to the N2bn welfare packages for retiring NCS officers in addition to their normal and legal retirement benefits.
Senator Bala Ibn Na’Allah expressed shock that the sum of N200m could be voted for a nonfunctional aircraft belonging to the NCS.
He said it was even more strange that another N100m was voted for fuelling the same aircraft.
He also queried the N180m that had been voted for fumigation. “What are you fumigating?” he queried.
When given the opportunity to respond to the issues raised, Alimikhena explained that the N2bn was not restricted to officers but all the ranks of the NCS.
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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