The Nigeria Customs Service (NCS) has commenced the implementation of a zero percent import duty and value-added tax (VAT) exemption on essential food items. A circular issued by the NCS, signed by Deputy Comptroller-General C.K Niagwan, confirmed that President Bola Tinubu has approved the measure, effective from July 15 to December 31.
The exempted food commodities include maize, husked brown rice, wheat, grain beans, and millet. This move is part of the federal government’s efforts to reduce inflation by suspending duties, tariffs, and taxes on food staples imported through land and sea borders.
To qualify for the duty waiver, importers must have milling capacity and a verifiable backward integration program (BIP), which involves sourcing raw materials locally. The Ministry of Finance will provide the NCS with a list of approved importers and their quotas to ensure strict compliance.
The NCS Comptroller-General, Bashir Adeniyi, noted that the government will forgo approximately N188 billion in revenue due to this suspension. However, the service will ensure seamless implementation by designating special corridors for clearing food imports.
