The Federal Government, through the Minister of Agriculture, Abubakar Kyari, has announced a 150-day suspension of duties, tariffs, and taxes on some essential food items imported through land and sea borders, the Minister announced at a briefing on Monday.
The Minister who revealed this during a briefing on Monday July 8, said food items such as maize, wheat, husked brown rice, and cowpeas, will enjoy a 150-day Duty-Free Import Window.
Kyari noted that the move is part of the Presidential Accelerated Stabilization and Advancement Plan, which is aimed at achieving food security and economic stability in the country.
He stressed that the government had been working tirelessly to address the food inflation crisis, which had seen prices skyrocket to unprecedented levels.
“The federal government has announced a 150-day Duty-Free Import Window for Food Commodities, suspension of duties, tariffs and taxes for the importation of certain food commodities (through land and sea borders). These commodities include maize, husked brown rice, wheat and cowpeas.
“Under this arrangement, imported food commodities will be subjected to a Recommended Retail Price (RRP).
“I am glad to reiterate that the Government’s position exemplifies standards that would not compromise the safety of the various food items for consumption.
“In addition to the importation by the private sector, the Federal Government will import 250,000MT of wheat and 250,000MT of maize. The imported food commodities in their semi-processed state will target supplies to the small-scale processors and millers across the country.” He added.
Meanwhile, addressing journalists on Monday July 8, presidential spokesman, Bayo Onanuga, however said that the the suspension was still under consideration.
“The measures are not yet official,” he stated.
Nigeria has been neck-deep in high inflation, which has seen prices of major staple food items soaring high on a daily basis.
