By The New Diplomat Business Desk
Following astronomic rising cost of food items and severe economic challenges facing Nigerians, the Federal Government has suspended duties, tariffs, and taxes for the importation of some essential food items such as maize, wheat, husked brown rice and cowpeas.
The announcement was made by the Minister of Agriculture and Food Security, Abubakar Kyari, during a press briefing at the National Press Centre, Abuja on Monday.
Kyari also revealed that the listed food items, which include maize, wheat, husked brown rice, and cowpeas, will enjoy a 150-day Duty-Free Import Window.
According to him, 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.
The minister stated that the government has been working hard to address the food inflation crisis, which has seen prices skyrocket to unprecedented levels.
Kyari also promised Nigerians that the federal government is committed to achieving food security and ensure that no citizen goes to bed hungry.
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.”
Kayir also said the federal government has also inaugurated the Renewed Hope National Livestock Transformation Implementation Committee to develop and implement policies that prioritize livestock development and align with the National Livestock Transformation Plan.
The New Diplomat reports that a food crisis has been looming large in Nigeria, posing a threat to the nation’s stability and peace . Food prices have surged, with food inflation reaching an all time high as 40.5%.
Among the hardest-hit commodities is rice, a dietary staple. In the past year alone, rice prices have skyrocketed by 169%, reaching nearly N90,000 per bag in March and April.
This sharp increase in food costs is placing immense strain on households across the country, exacerbating an already fragile economy.
