A seasoned economic expert, Musa Audu-Abubakar, has raised the alarm over the alleged illegalities taking place at the Nigerian Export Processing Zone in Kano, costing the Federal Government billions of naira in revenue.

Mr Audu-Abubakar, who raised the alarm while speaking with select newsmen on Tuesday in Kano, lamented that at a time when the country is battling with economic instability, finished goods are being diverted to the Nigerian Export Processing Zone for clearance.

According to the expert, the alleged illegality is taking place under the watch of some unpatriotic Customs officers.

He said: “Some businessmen are in the habit of diverting finished products to Nigerian Export Processing Zone Authority because they pay as little as 30% of the customs duty while the government lose billions of revenue.

“They pay as little as 30% of customs duty payable at the Kano Free Trade Zone, while they don’t pay sometimes because they settle the customs officers on duty.

“This is affecting the economy. The government is losing billions of naira until the needful is done,” he lamented.

Mr Audu-Abubakar explained that the Nigerian Export Processing Zone Authority/Kano Free Trade Zone, which is located at the Fanisau Area of Ungogo Local Government in Kano is solely responsible for clearing raw materials, not finished products.

“Taking finished products to the agency for clearance is illegal and against the law,” the expert emphasized.

“The last time I visited the Nigerian Export Processing Zone Authority, I saw that not less than 10 containers of finished products were being cleared in the evening. The question is what brought finished goods to the Nigerian Export Processing Zone?,” he quizzed.

Mr Audu-Abubakar, therefore, called on the federal government to deploy its enforcement mechanisms with a view to ensuring that all finished goods go through the appropriate channels.

“The federal government needs to act fast and enforce regulations so that anyone found guilty of sabotaging the effort of the government in generating deserved revenue,” he added.

The Kano State House of Assembly has called on the state government to take action against Kano Electricity Distribution Company (KEDCO) for cutting off electricity supply to customers without notice.

During a plenary session on Tuesday presided over by the speaker Jibril Isma’il Falgore, Usman Abubakar Tasiu, a member representing Kiru, made the call.

In presenting the motion, Tasi’u lamented how KEDCO has failed to provide transformers or repair faulty ones, despite collecting payments.

He urged the Kano State Government to compel KEDCO to restore electricity supply to affected communities, particularly in Kiru, Bebeji, and Karaye areas.

Contributing to the motion, Aminu Sa’ad, the member representing Ungoggo, noted that the House has repeatedly called on the government to intervene in KEDCO’s operations due to the power outage.

He mentioned that different motions were presented in the eighth and ninth assemblies regarding KEDCO’s operation, as the company has failed to satisfy the people of Kano State.

Sa’ad emphasized that KEDCO should start compensating customers for its failure to serve them well.

He expressed disappointment that the situation has persisted despite previous efforts, which should not be tolerated anymore.

Dangote Petroleum Refinery has again announced a further reduction in the prices of both diesel and aviation fuel to N940, N980 per litre respectively.

This is coming in the wake of its widely celebrated price reduction to N1,000 barely two weeks ago.

The price change of N940 applies to customers buying five million litres and above from the refinery, while the price of N970 is for customers buying one million litres and above.

Speaking on the new development, the Head of Communication, Mr Anthony Chiejina, explained that the new price is in consonance with the company’s commitment to cushion the effect of economic hardship in Nigeria.

“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable price, in all their stations be it Lagos or Maiduguri. You can buy as low as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates.”

He further stated that the partnership will be extended to other major oil marketers. “The essence of this is to ensure that retail buyers do not buy at exorbitant prices.

“The Dangote Group is committed to ensuring that Nigerians have a better welfare and as such, we are happy to announce this new prices and hope that it would go a long way to cushion the effect of economic challenges in the country.

It would be recalled that the management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from 1200 to 1,000 Naira per litre barely two weeks ago.

This marks the third major reduction in diesel price in less than three weeks when the product sold at N1,700 to N1,200 and also a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre.

Nigerian President Bola Tinubu had also commended Mr Dangote for the initial price reduction, describing it as an “enterprising feat.”

Reacting to the latest development, The Director General of the Manufacturers Association of Nigeria (MAN), Mr. Ajayi Kadiri, said that “The decision of Dangote Refinery to first crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now N940 is an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy.”

He added that “The trickledown effect of this singular intervention promises to change the dynamics in the energy cost equation of the country, in the midst of inadequate and rising cost of electricity.

“The reduction will have far-reaching effects in critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the high inflation rate in the country; a lot of companies will be back in operation