The Federal Government has announced that the guidelines for the suspension of customs duty and taxes on imported food items, including rice, will 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.
Speaking at a meeting of heads of security agencies in Abuja, the Comptroller-General of Customs, Bashir Adeniyi, said the implementation of the policy would commence once the guidelines are ready.
Adeniyi explained that the delay experienced in the implementation of the policy was to ensure that the interests of all 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 assured that the guidelines would be ready within the next week, and the Nigerian Customs would begin the implementation of these particular fiscal policies.
Adeniyi expressed hope that the suspension of duty and taxes on imported food items over some time would help reduce food prices.
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The Customs boss said the service was dedicated to implementing the policy as outlined by the government, believing it would help bring down the prices of food items in the market.
Adeniyi stated that since the protests were anchored on ending hunger, the government had been making efforts to eradicate hunger through a mixture of fiscal policies and strategic interventions.
He mentioned the distribution of strategic food items from the national grain reserves and the suspension of customs duty and taxes on imported food items as some of the government’s interventions.
