In a week, the Nigeria Customs Service (NCS) will kick off the implementation of duty waivers on imported foods, according to Comptroller General Bashir Adeniyi. This announcement came during a press briefing in Abuja, where top security officials, including the Chief of Defence Staff Gen. Christopher Musa, gathered at the Defence Headquarters.
Adeniyi emphasized that the Ministry of Finance is finalizing the guidelines, asking Nigerians to remain patient as the government addresses rising food prices and the high cost of living. This move follows President Bola Tinubu’s directive to suspend import duties and taxes on essential foodstuffs, aiming to curb inflation.
The government has been actively working on various measures, including the distribution of strategic food items from national grain reserves to states across the country. Adeniyi noted that while many food items in Nigeria are imported, the suspension of duties is expected to reduce their market prices once the guidelines are set.
He stressed the importance of balancing the interests of local farmers and the need to alleviate immediate food inflation. The NCS is ready to implement these fiscal policies once the guidelines are established, which Adeniyi assures will happen within the next week.
