The Federal Government has decided to stop charging duties, tariffs, and taxes on certain food items like Maize, Husked Brown Rice, Wheat, and Cowpeas when they are imported through land and sea borders.
During a Press Briefing at the National Press Centre in Abuja on Monday, the Minister of Agriculture and Food Security, Abubakar Kyari, revealed that the decision to suspend duties, tariffs, and taxes on specific food items imported through land and sea borders is a significant step taken under the Presidential Accelerated Stabilization and Advancement Plan.
This plan, initiated by President Bola Ahmed Tinubu, is focused on attaining food security and economic stability in Nigeria.
The Minister highlighted that the government is working hard to address the soaring food prices that have caused a crisis of food inflation.
In addition to removing import duties, the government will import 250,000 metric tons of Wheat and 250,000 metric tons of Maize. These will be distributed to small-scale processors and millers across the country.
The Minister also mentioned that the government will work with stakeholders to set a Guaranteed Minimum Price (GMP) and collect extra food supplies to refill the National Strategic Food Reserve.
The Minister assured Nigerians that the government is committed to ensuring food security and ending hunger for its citizens.
Additionally, the government has formed the Renewed Hope National Livestock Transformation Implementation Committee.
This committee is responsible for developing and implementing policies that focus on the growth of livestock and align with the National Livestock Transformation Plan.
