The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has stated that the suspension of taxes on food imports will help stabilize prices.
On Monday, Dele Oye, NACCIMA’s national president, said this decision is a crucial step toward alleviating the severe food inflation affecting Nigerian households.
Oye also praised the 150-day duty-free import window for essential items like maize, husked brown rice, wheat, and cowpeas, calling it a commendable action that will help stabilize food prices and provide relief to millions of Nigerians.
“On behalf of NACCIMA, we commend the federal government’s decisive action to suspend duties, tariffs, and taxes on the importation of key food commodities,” Oye said.
“This initiative, announced by Honourable Minister Abubakar Kyari, represents a significant step toward mitigating the severe food inflation currently impacting Nigerian households. The 150-day duty-free import window for essential items such as maize, husked brown rice, wheat, and cowpeas is a commendable move that will likely stabilize food prices and provide much-needed relief to millions of Nigerians.”
“By addressing the multiple factors contributing to rising food prices, including infrastructural challenges and market profiteering, this policy demonstrates a comprehensive approach to ensuring food affordability,” he added.
Oye called on the government to collaborate with agriculture sector stakeholders to protect local investments and sustain growth.
“However, while we applaud these measures, it is imperative that the government immediately engages with stakeholders across the agricultural value chain,” he said. “This engagement is crucial to ensure that Nigeria is not turned into a dumping ground for commodities where we already have reasonable self-sufficiency. Protecting local investments and sustaining the growth of our agricultural sector must remain a priority.”
He reaffirmed the association’s commitment to supporting the government in these efforts, ensuring that the strategic importation of food commodities complements rather than undermines the country’s agricultural production.
Earlier, Abubakar Kyari, minister of agriculture and food security, announced the suspension of duties, tariffs, and taxes on imported maize, husked brown rice, wheat, and cowpeas through land and sea borders. Kyari stated that the 150-day duty-free import window for food commodities would be part of measures implemented over the next 180 days to mitigate food inflation in Nigeria.
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