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 listed food items include maize, wheat, husked brown rice, and cowpeas, which will enjoy a 150-day Duty-Free Import Window.
Kyari said 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 claimed the government had been working tirelessly to address the food inflation crisis, which had seen prices skyrocket to unprecedented levels.
He said: “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.”
Recall the country is experiencing high inflation, especially on food items, with some staples seeing increase of up to 40%, year on year.
