The Nigerian Government has suspended duties, tariffs, and taxes on certain imported food commodities.
This move is to help combat food inflation in Nigeria.
Minister of Agriculture and Food Security, Abubakar Kyari, announed this on Monday, while addressing journalists at the National Press Centre, Abuja.
Kyari explained that the suspension will apply to imported maize, husked brown rice, wheat, and cowpeas through both land and sea borders.
He outlined that a 150-day duty-free import window for these food commodities will be implemented as part of measures to mitigate food inflation over the next 180 days.
This initiative is part of the accelerated stabilization and advancement plan presented to President Bola Tinubu by the economic management team under the Presidential Economic Coordination Council, which was established in March.
The minister stated that the government has been working tirelessly to address the food inflation crisis, which has seen prices skyrocket to unprecedented levels.
He attributed rising food prices to multiple taxes and levies, infrastructural challenges, and profiteering by marketers and traders.
He noted that the cost of food items has escalated dramatically, making basic necessities unaffordable for many Nigerians.
Kyari mentioned that common items like yam, plantain, and potato have become excessively expensive while assuring Nigerians that the government is committed to achieving food security and ensuring that no citizen goes hungry.
He further announced that the Federal Government will import 250,000 metric tons of wheat and 250,000 metric tons of maize, targeting supplies to small-scale processors and millers across the country.
Kyari also announced the inauguration of the Renewed Hope National Livestock Transformation Implementation Committee, which will develop and implement policies prioritizing livestock development in alignment with the National Livestock Transformation Plan.
