The Nigerian Government has announced a 150-day duty-free import window for food commodities as it stepped up efforts to tackle rising inflation which has impoverished many Nigerians.
Nigeria’s Minister of Agriculture and Food Security, Abubakar Kyari, told a news conference on Monday in Abuja that the 150 days of duty-free imports would be valid for commodities including maize, husked brown rice, wheat, and cowpeas.
The minister explained that the initiative, which is part of the Presidential Accelerated Stabilisation and Advancement Plan, will enable the Nigerian Government to import 250,000 metric tonnes of wheat and 250,000MT of maize.
According to him, the imported food commodities in their semi-processed state will target supplies to the small-scale processors and millers across the country.
“To ameliorate food inflation in the country caused by affordability and exacerbated by availability, the government has taken a raft of measures to be implemented over the next 180 days,” Kyari said.
He announced that the government has suspended duties, tariffs and taxes for the importation of certain food commodities through land and sea borders.
The minister also said that the government was ready to collaborate with states to expand land cultivation across the country.
In the last one year, Nigerians had been battling with high food prices and in 2023, Nigerians spent $2.13bn to import food items from abroad.
However, the high food import bill is a concern for the Nigerian government. Despite government’s efforts to boost local production to reduce the dependence on food imports, factors such as inadequate infrastructure, insecurity, and climate change have hindered progress in the agricultural sector.
GIK/APA
Nigeria suspends import duties on food commodities
