Lawmakers scrutinize sugar import figures, demand NSDC explain revenue discrepancies

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By Gift ChapiOdekina, Abuja

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The House of Representatives Committee on Finance has raised concerns over discrepancies in the reported volume of sugar imported into Nigeria and the revenue remitted by the National Sugar Development Council (NSDC).

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The committee’s chairman, Hon. James Faleke, highlighted the issue on Wednesday during the panel’s Revenue Monitoring Exercise for the 2023–2025 fiscal years, as the NSDC Executive Secretary, Mr. Kamar Bakrin, presented data on sugar importation and sector revenue.

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Faleke questioned the reliability of the council’s records, suggesting that the figures might not fully reflect actual sugar imports.

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In response, Bakrin explained that the NSDC does not directly collect revenue from sugar imports. He clarified that the Nigeria Customs Service is responsible for collecting the sugar levy at the ports and remitting funds to government accounts.

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He further noted that the NSDC’s role is primarily regulatory and advisory, including issuing import licences to companies seeking to bring raw sugar into the country. These licences are recommended by the council based on compliance assessments and forwarded through the supervising ministry to the President for final approval.

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Bakrin disclosed that approximately two million metric tonnes of raw sugar imports were approved during the period under review. He also explained that the NSDC funds its operations through a portion of the sugar levy collected by Customs, with funds released periodically by the Office of the Accountant General of the Federation in line with National Assembly appropriations.

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Faleke urged the NSDC to implement a more robust system for verifying sugar import volumes, noting that reliance solely on Customs data could result in discrepancies and affect revenue accuracy. He emphasized the need for improved monitoring and reconciliation mechanisms to ensure transparency and accountability.

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The committee also requested that the Nigerian National Petroleum Company Limited (NNPCL) provide detailed information on Nigeria’s oil assets and equity participation in oil wells, including Joint Ventures (JV), Production Sharing Agreements (PSAs), and wholly owned assets.

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Faleke instructed that production data, equity shares, and supporting documentation for each asset be submitted to enable proper verification by the committee.

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The ongoing revenue monitoring exercise is part of the National Assembly’s oversight mandate to ensure transparency, accountability, and proper remittance of government revenues into the Federation Account.

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