Federal Government has announced the suspension of duties, tariffs, and taxes on imported food commodities.
In a statement on Monday, Minister of Agriculture and Food Security, Abubakar Kyari, revealed that maize, husked brown rice, wheat, and cowpeas imported via land and sea borders will benefit from this measure.
Kyari emphasized the implementation of a 150-day duty-free import window for these food items as part of broader measures aimed at curbing food inflation in Nigeria over the next 180 days.
He attributed the rising food prices to multiple taxes, infrastructural challenges, and what he described as excessive profit-taking by marketers and traders.
“We have all witnessed the alarming rise in the cost of food items across the country,” Kyari acknowledged. “The affordability crisis in our food security system has been underscored by the National Bureau of Statistics, which has reported food inflation at 40.66%.”
He further noted, “There has been widespread concern over the soaring prices of essential food items, prompting creative recipes to make meals more affordable. Previously common items like yam, plantain, and potatoes now command exorbitant prices, leading Nigerians to question the reasons behind this trend.”
Kyari also outlined additional measures to be implemented, including subjecting imported food commodities to a recommended retail price and ensuring compliance with safety standards for food consumption.
The government plans to import 250,000 metric tonnes of wheat and maize, targeting distribution to small-scale processors and millers.
Kyari further highlighted plans to collaborate with stakeholders to establish a guaranteed minimum price and replenish the national strategic food reserve by purchasing surplus assorted food commodities.
He concluded by assuring Nigerians of the government’s commitment to implementing these policies rigorously to enhance food security nationwide.
