The Federal Government has announced the suspension of duties, tariffs, and taxes for the importation of select food items via land and sea borders.
The Minister of Agriculture and Food Security, Abubakar Kyari, unveiled this decision during a press briefing at the National Press Centre in Abuja on Monday.
Kyari revealed that certain food items such as maize, wheat, husked brown rice, and cowpeas will benefit from a 150-day Duty-Free Import Window as part of the Presidential Accelerated Stabilization and Advancement Plan. This initiative aims to bolster food security and economic stability within the nation.
The minister emphasized the government’s relentless efforts to combat the food inflation crisis, which has led to unprecedented price surges. Kyari reassured Nigerians of the government’s unwavering commitment to achieving food security and eradicating hunger.
He stated, “The Federal Government has introduced a 150-day Duty-Free Import Window for Food Commodities, including the suspension of duties, tariffs, and taxes on the importation of specific food commodities (via land and sea borders). These commodities comprise maize, husked brown rice, wheat, and cowpeas.
“Imported food commodities will be subject to a Recommended Retail Price (RRP) under this scheme.
“I am pleased to reaffirm that the government’s stance upholds standards that prioritize the safety of various food items for consumption.
“In addition to private sector imports, the Federal Government will procure 250,000MT of wheat and 250,000MT of maize. These imported food commodities in their semi-processed form will be directed towards supplying small-scale processors and millers nationwide.”
Kyari also announced the establishment of the Renewed Hope National Livestock Transformation Implementation Committee by the federal government to formulate and execute policies that prioritize livestock development in alignment with the National Livestock Transformation Plan.
This development comes amidst widespread economic challenges and soaring living costs, with food inflation surging to 40.5 percent. Rice, a dietary staple, has been severely impacted, with prices skyrocketing by 169 percent in the past year alone, reaching nearly N90,000 per bag in March and April.
The sharp escalation in food expenses is placing immense pressure on households nationwide, exacerbating an already fragile economy.
Estimates suggest that approximately 31 million Nigerians could face severe food shortages by August this year.
