FG suspends tax on rice, maize, other staples
By Matthew Denis
The Nigerian Federal Government has declared a 150-day suspension of duties, tariffs, and taxes on several essential food items imported through both land and sea borders. This policy change was revealed by Abubakar Kyari, the Minister of Agriculture and Food Security, during a press briefing held at the National Press Centre in Abuja on Monday.
Minister Kyari highlighted that the tax suspension would cover vital staples such as maize, wheat, husked brown rice, and cowpeas. This initiative is part of the Presidential Accelerated Stabilization and Advancement Plan, aimed at boosting food security and stabilizing the economy amidst rising food prices.
“The Federal Government has announced a 150-day Duty-Free Import Window for Food Commodities, suspension of duties, tariffs, and taxes for the importation of certain food commodities (through land and sea borders). These commodities include maize, husked brown rice, wheat, and cowpeas,” Kyari stated
He further explained that imported food items would adhere to a Recommended Retail Price (RRP) to ensure affordability.
Kyari reassured citizens that this measure is designed to combat food inflation, which has caused a dramatic increase in food prices. “I am glad to reiterate that the Government’s position exemplifies standards that would not compromise the safety of the various food items for consumption,” he said.
In addition to the tax suspension, the government plans to import 250,000 metric tons of wheat and 250,000 metric tons of maize. These semi-processed food commodities are intended to support small-scale processors and millers nationwide, ensuring that the benefits of this policy reach various levels of the food supply chain.
Kyari also announced the inauguration of the Renewed Hope National Livestock Transformation Implementation Committee. This committee is tasked with developing and implementing policies that support livestock development in alignment with the National Livestock Transformation Plan.
