Taxation: NAIC inaugurates committees on national transit insurance
The Nigerian Agricultural Insurance Corporation ( NAIC) on Thursday in Abuja inaugurated five committees for the implementation of the National Transit Insurance Scheme (NATIS) and National Anti-multiple Taxation Scheme (NAMTAXS).
The committees are to reduce high cost of food due to haulage problem in the country.
Mrs Folashade Joseph, the Managing Director of NAIC, lamented that over the years there were challenges of insecurity, poor state of roads and the compromising activities of some transporters and freighters.
Joseph said these had impacted negatively on the safety and ease of transportation of goods from one place to another.
Joseph who was represented by the director of operations, Mr Bashir Babalola said the effect of the challenges on the nation’s economy was discernible.
She said inflationary pressures had been exerted on prices of goods particularly food and industrial raw materials.
Joseph noted that the schemes provided mandatory protection of all goods in transit nationwide in the form of insurance.
Mr Salawu Ozigi, Director of Finance and Accounts, Association of Local Governments of Nigeria said the inauguration was a welcome development.
The News Agency of Nigeria( NAN) reports that the schemes were made up of five committees which include welfare, labour, media, finance and security. (NAN).
