From Ndubuisi Orji, Abuja
The Nigerian Customs Service (NCS) has said the federal government will forgo an estimated revenue of N188.37 billion as as result of suspension of tariffs on import of staple food items for six months.
The Comptroller General of Customs, Bashir Adewale, disclosed this, in a keynote address at the Second Economic Confidential Lecture & Book presentation, on Tuesday, in Abuja.
Adewale, who spoke on “Facilitating food trade through efficient Customs process: Best practices for Nigeria”, said the federal government was committed to ensuring food security in the country.
The Federal Government recently announced the suspension on tariffs on some staple food items including rice, wheat, maize and sorghum, for six months, as part of efforts to ensure food security in the country.
The Customs boss noted that the policy, which according to government is intended to bring the prices of food items in country, as well as make them easily accessible to citizens, is a sacrifice by government, owing the potential revenue it will lose.