In a bid to alleviate the high cost of living, the Nigerian government has suspended duties, tariffs, and taxes on the importation of essential food items, including beans, wheat, and husked brown rice.
Minister of Agriculture, Abubakar Kyari, announced the policy change, effective immediately, to address the skyrocketing prices of basic food items following the removal of petrol subsidies and the floating of the naira.
Mr Kyari, in a statement he shared on his X account, said the government has suspended “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.”
The government hopes this move will lead to a significant reduction in food prices.
Additionally, the federal government will import 250,000 metric tons of wheat and 250,000 metric tons of maize, which will be supplied to small-scale processors and millers nationwide.
This move aims to increase food availability and affordability, easing the burden on Nigerian citizens.
In his statement, Mr Kyari said the imported food “will be subjected to a Recommended Retail Price (RRP).”
Mr Kyari also said the federal government will massively import some food items in addition to allowing the duty-free importation of food.
“Federal Government will import 250,000 metric tons of wheat and 250,000 metric tons of maize. These semi-processed commodities will be supplied to small-scale processors and millers across the country,” he said.
