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| FG Suspends Taxes on Yam, Rice, and Other Food Products |
The federal government has approved a 150-day duty-free period for the importation of maize, husked brown rice, and wheat as part of efforts to tackle rising food inflation in the country.
Speaking to the press in Abuja on Monday, Senator Abubakar Kyari, Minister of Agriculture and Food Security, announced that this initiative suspends duties, tariffs, and taxes on these imports through both land and sea borders.
This measure is part of the Presidential Accelerated and Stabilisation Advancement Plan (ASAP).
Addressing concerns about the quality and genetic composition of the imported foods, the minister assured that the government would maintain safety standards.
The minister stated: “The Federal Government has announced a 150-day Duty-Free Import Window for Food Commodities, suspending duties, tariffs, and taxes for the importation of certain food commodities through land and sea borders. These commodities include maize, husked brown rice, wheat, and cowpeas.
“Under this arrangement, imported food commodities will be subjected to a Recommended Retail Price (RRP).
“I am pleased to reiterate that the Government’s stance upholds standards that will not compromise the safety of the various food items for consumption.
“In addition to private sector imports, the Federal Government will import 250,000MT of wheat and 250,000MT of maize. These imported food commodities, in their semi-processed state, will be directed to small-scale processors and millers across the country.”
