FG Backs Probe Of Unfair Practices In Free Trade Zones — Akume

The Secretary to the Government of the Federation, Sen. George Akume, says the federal government remains committed to supporting the Presidential Committee on Trade Malpractices (PCTM) in stemming trade irregularities as part of its strategic efforts to promote economic growth, support local production, and create job opportunities.

He said yesterday in Abuja while receiving members of the presidential committee on trade malpractices led by the chairman, Malam Dahiru-Ado Kurawa on a courtesy visit.

The SGF, who was represented by the permanent secretary, General Services Office, Dr Ibrahim Abubakar Kana, noted that the federal government, under the Renewed Hope Agenda, remained committed to implementing policies that stimulate indigenous production, encourage domestic value addition and strengthen institutions responsible for protecting Nigeria’s economic interests.

In a statement by the head, information & public relations in the office of the SGF, Chris Ugwuegbulam, Akume observed that Nigeria’s economic transformation depends largely on the country’s ability to boost local production while addressing the challenges confronting manufacturers, traders and investors.

He stressed that the availability of credible, reliable data is essential for effective planning, policy formulation, and evidence-based decision-making.

Akume commended the efforts of the Presidential Committee on Trade Malpractices in protecting Nigeria’s economy from illicit trade and financial crimes.

He called for greater public awareness and stronger institutional support for agencies combating economic and financial crimes, noting that their work is critical to improving investor confidence, enhancing transparency,and fostering national development.

The SGF reiterated government’s resolve to continue working closely with the Presidential Committee and relevant Ministries, Departments and Agencies (MDAs), the private sector and other stakeholders to implement policies that will strengthen local industries, promote fair trade practices, generate employment and accelerate sustainable economic growth.

Chairman of the  Committee on Trade Malpractices, Malam Dahiru-Ado Kurawa, assured of the committee’s commitment to eliminating trade malpractices, plugging revenue leakages, and promoting a fair and competitive business environment that supports Nigeria’s economic growth and industrial development.

He said the committee had undertaken extensive investigations into alleged unfair trade practices within Nigeria’s Free Trade Zones following petitions submitted by the Manufacturers Association of Nigeria (MAN).

He further explained that the petitions alleged that certain foreign companies operating within the Free Trade Zones were exploiting regulatory loopholes and government incentives to gain unfair competitive advantages over indigenous manufacturers operating within Nigeria’s customs territory.

Dahiru Ado – Kurawa added that the Federal Government constituted the Presidential Committee on Trade Malpractices to investigate these allegations, safeguard national revenue, and restore equity in the country’s trade and investment environment.

“The Committee was established to identify and eliminate practices that undermine government revenue, distort competition, and weaken the growth of local industries. Our objective is to ensure that all businesses operate under a transparent and equitable regulatory framework,” he stated.