Agric ministry vs Stallion Group: Who is telling the truth?

The media, recently, have been agog with the war of words between the Federal Ministry of Agriculture and the Stallion Group over N17 billion rice import duties and levies. The ministry, last week, in a publication pointed out that Stallion Group-one of the nation’s rice importers, did not tell the truth on the capacity of […]

The media, recently, have been agog with the war of words between the Federal Ministry of Agriculture and the Stallion Group over N17 billion rice import duties and levies.
The ministry, last week, in a publication pointed out that Stallion Group-one of the nation’s rice importers, did not tell the truth on the capacity of its rice mill in order to get more quotas on rice imports.
According to the ministry, the claim made by Stallion Group of installed 430,000 metric tonnes capacity rice mill as against the 110,000 metric tonnes, was an attempt to evade tax duties and levies accruing to N17 billion.
But Stallion Group, in a media statement, denied the allegation, insisting that the 430,000 MT represented a combined capacity for both Popular Farms and Masco Allied Industries, its subsidiaries.
In another allegation, the ministry said that while the Popular Farms was given approval to import 89,939 MT of rice in 2014, Masco Agro Allied Industries did not get any allocation to import the product.
Reacting, Stallion Group described as “incorrect” the claims, adding that Masco Agro Allied was duly verified and acknowledged as an integrated rice miller in the country, and guaranteed by the first category to import rice at 30% under the new rice policy.
It however did not mention the quota given to the subsidiaries.
Stallion Group described as “unfair” the assertion that the company was frustrating the nation’s quest to be self-sufficient in rice production, adding that it has over N12 billion investments in the country’s rice production sector with a target of 1.5 million metric tonnes capacity.
However, the Ministry of Agriculture said Stallion Group was more concerned with importation, instead of promoting local production-an act affecting the Nigerian farmers.