President Bola Tinubu has approved a 150-day duty-free import window for specific food commodities, including maize, husked brown rice, wheat, and cowpeas.
This initiative also suspends duties, tariffs, and taxes on these imports through both land and sea borders.
The announcement was made by Senator Abubakar Kyari, Minister of Agriculture and Food Security, during a press briefing at the National Press Centre, Radio House, Abuja, on Monday, July 8, 2024.
This measure is part of the Presidential Accelerated Stabilisation and Advancement Plan.
Under the new arrangement, imported food commodities will be subject to a Recommended Retail Price (RRP).
Addressing concerns about the quality and genetic composition of the imported foods, the minister assured that the government would uphold safety standards.
“The government’s position exemplifies standards that would not compromise the safety of the various food items for consumption,” he stated.
In addition to private sector imports, the Federal Government will import 250,000 metric tonnes of wheat and 250,000 metric tonnes of maize.
These semi-processed commodities are intended to support small-scale processors and millers across the country.
Explaining the rationale behind the initiative, the minister emphasised the urgency of addressing high food prices.
“The government could not allow this situation to persist,” he said.
Despite ongoing agricultural initiatives by the Federal Ministry of Agriculture and Food Security and state governments, immediate measures are necessary to alleviate the current crisis.
“While there are ongoing agricultural initiatives, programmes, and projects under the Federal Ministry of Agriculture and Food Security, and state governments also have theirs, we must respond to the creeping availability crisis.
“As the government continues to encourage agricultural production on a sustainable and profitable basis for farmers, the time lag between cultivation and harvest makes it inevitable for the government to kick in stop-gap measures that will bring tremendous relief to Nigerians,” he added.
Below is the minister’s statement
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