In a decisive move to tackle the soaring prices of essential food items and alleviate hunger in Nigeria, the Federal Government has announced the suspension of import duties on key staples, including rice, flour, and wheat. This policy change, executed through the Nigeria Customs Service (NCS), aims to make these critical food items more affordable for Nigerians amidst rising global inflation.
Comptroller-General of the NCS, Mr. Adewale Adeniyi, unveiled this significant measure, highlighting the government’s commitment to easing the burden on citizens and addressing food insecurity. “Global inflation is impacting nations worldwide, including Nigeria,” Mr. Adeniyi remarked. “To mitigate this, the Federal Government, through the Nigeria Customs Service, is suspending import duties and taxes on essential food items to reduce their prices and make them more accessible.”
This initiative is part of a comprehensive strategy to support Nigerian households during these challenging economic times. The NCS is focused on ensuring the smooth implementation of this duty suspension, aiming to provide immediate relief and long-term stability in the food market. Additionally, the NCS is enhancing export processes to ensure Nigerian products reach international markets efficiently. This includes the deployment of advanced tools like the Advanced Ruling System, Authorized Economic Operator, and Time Release Study, designed to streamline trade, boost the economy, and create new opportunities for Nigerian businesses.
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“Our farmers, artisans, and entrepreneurs will now have a quicker route to global markets, which will significantly benefit their livelihoods and communities,” Mr. Adeniyi explained. “We are also ramping up efforts with other agencies to prevent the entry of arms and other dangerous items through our borders. Strengthening our borders and ensuring peaceful progress is a collective effort.”
Mr. Adeniyi pointed out that supply chain disruptions have severe repercussions, including deterring foreign investments, distorting trade, and causing instability. He called for unity and cooperation among Nigerians to navigate these challenges successfully. “In these trying times, let us stand together with resilience and cooperation,” he urged. “We deeply appreciate those who have chosen the path of peace and dialogue. Your constructive engagement is vital for our nation’s well-being, and your cooperation is crucial as we work to build a brighter future.”
The suspension of import duties on essential food items is a strategic response to the immediate needs of the Nigerian populace. The Federal Government, through the NCS, is dedicated to providing sustainable solutions to hunger and economic instability, fostering a more prosperous and secure nation.
