•Vows to back reforms to simplify trade regulations
CHIGOZIE AMADI
The Speaker, House of Representatives, Tajudeen Abbas, has said that more than 75 percent of goods offloaded in the Benin Republic ports are bound for Nigeria, blaming inefficiencies and high costs at Nigerian ports.
Abbas stated this when he received a delegation from the Presidential Enabling Business Environment Council (PEBEC), according to a statement by Musa Krishi, his spokesperson.
According to him, Nigeria is losing massive revenue to its West African neighbours due to persistent administrative and regulatory bottlenecks at the nation’s ports and border posts.
He stated: “I hear that over 75 percent of goods offloaded in Benin Republic are actually meant for Nigerian destinations.
“Countries are avoiding shipping directly to Nigeria because of our bureaucracy, delays, and high costs.”
The Speaker warned that such inefficiencies are hurting both government revenue and investor confidence, calling for urgent reforms in the maritime and trade logistics sectors.
He cited his recent visit to Morocco, where Nigerian officials were criticised over the sluggishness in the country’s import and export systems.
“We cannot continue to allow our economy to bleed while our neighbours benefit from our inefficiencies. This is a serious economic distortion that requires immediate policy and legislative response.”
Abbas assured the PEBEC team that the House would back reforms to simplify port operations, customs procedures, and trade regulations, including enforcement of the Financial Reporting Council of Nigeria (FRCN) Act and provisions of the pending Tax Reform Bills.
He also pledged legislative cooperation to ensure Nigeria upholds agreements with investors operating in free trade zones.
Abbas commended PEBEC’s efforts, especially its youth-led approach, and reiterated that the house is committed to tackling bottlenecks stifling trade, investment, and economic growth.
On her part, Director General of PEBEC, Zara Mustapha Audu, said the visit was on behalf of Vice President Kashim Shettima, who chairs the council.
Mustapha presented a letter from Vice President Kashim Shettima, who chairs the Council, and called for the House’s intervention in addressing tensions between FRCN and the private sector.
