The Federal Government has announced that the guidelines for the suspension of customs duty and taxes on imported food items are to commence next week.
In July, the Federal Government approved a 150-day duty-free window to allow the importation of maize, husked brown rice, and wheat as part of measures to combat rising food inflation across the country.
The initiative was based on the implementation of the Presidential Accelerated and Stabilisation Advancement Plan.
Speaking at a meeting of heads of security agencies in Abuja on Tuesday, the Comptroller-General of Customs, Bashir Adeniyi, said the implementation of the policy would commence once the guidelines are ready.
He explained that the delay experienced in the implementation of the policy was to ensure that the interests of all the stakeholders, including farmers, were considered.
The Customs boss urged Nigerians to be patient, adding that some of the imported items already in the country would be cleared without duty and taxes.
Adeniyi said, “There is the issue of striking a balance between the long-term interests of Nigerian farmers and stakeholders who are involved in the production of these items, and the short-term interest of food inflation.
He stated that since the protests were anchored on ending hunger, the government had been making efforts to eradicate hunger.
“The ongoing protest has been based on many themes and one of them is ending hunger.”
“I’d like to let Nigerians know that there has been a lot going on to address these issues that are related to this situation through a mixture of fiscal policies of the government and the number of strategic interventions from ministries, departments, and agencies.”
“One of the things that I recall is the intervention through the distribution of strategic food items which was released from the national grain reserves about a month ago. This was released to all states of the federation. We also recall that a number of the food items that are consumed in Nigeria are imported. A better part of the components are imported, and importation is not done on the shelf”.
“It takes some time before they are done. So one of the things that the President has done is to cushion the effect of the cost inflation by suspending customs duty and taxes on imported food items for some time.”
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