FG moves to address food inflation, suspends duties, tariffs, taxes on essential food items

The Federal Government has announced the suspension of duties, tariffs, and taxes on specific food items imported through land and sea borders.

The reports said that the affected items include maize, husked brown rice, wheat, and cowpeas.

The announcement was made during a press briefing by the Minister of Agriculture and Food Security, Abubakar Kyari, at the National Press Centre, Abuja yesterday.

This move is part of the Presidential Accelerated Stabilization and Advancement Plan, an initiative of President Bola Ahmed Tinubu aimed at achieving food security and economic stability in Nigeria.

According to the Minister, the government has been working tirelessly to address the food inflation crisis, which has seen prices skyrocket to unprecedented levels.

In addition to the duty-free import window, the government will also import 250,000MT of wheat and 250,000MT of maize, which will be supplied to small-scale processors and millers across the country.

The Minister added that the government will also engage stakeholders to set a Guaranteed Minimum Price (GMP) and mop up surplus food commodities to restock the National Strategic Food Reserve.

The minister assured Nigerians that the government is committed to achieving food security and ensuring that no citizen goes to bed hungry.

The government has also inaugurated the Renewed Hope National Livestock Transformation Implementation Committee to develop and implement policies that prioritize livestock development and align with the National Livestock Transformation Plan.