BREAKING: Tinubu Suspends Tax, Import Duties for Rice, Other Key Food Commodities

The Federal Government of Nigeria has announced the suspension of duties, tariffs, and taxes on the importation of certain essential food items through both land and sea borders. This decision, unveiled on Monday, aims to mitigate food insecurity and stabilize prices.

The food items affected by this suspension include maize, husked brown rice, wheat, and cowpeas. Abubakar Kyari, the Minister of Agriculture and Food Security, made this announcement during a press conference in Abuja, introducing a 150-day duty-free import window for these commodities.

Kyari emphasized the government’s commitment to ensuring the affordability and safety of these essential food items, stating: “The 150-Day Duty-Free Import Window for Food Commodities, including the suspension of duties, tariffs, and taxes for the importation of maize, husked brown rice, wheat, and cowpeas, is a decisive step. Imported food commodities will be subjected to a Recommended Retail Price (RRP) to ensure affordability.”

He further assured that the government’s standards for food safety would remain uncompromised: “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.”

In addition to facilitating private sector importation, the Federal Government itself will 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 across the country, ensuring a steady supply to meet domestic demand.

This policy is expected to provide significant relief to consumers and help stabilize the food supply chain in Nigeria amidst ongoing economic challenges.