The Nigerian government suspends taxes and import duties on essential food items to tackle rising prices, supporting small-scale processors and boosting local production.
The Federal Government of Nigeria has announced the suspension of taxes and import duties on essential food items like maize, wheat, and brown rice. This measure, part of a broader strategy to tackle rising food prices, aims to ease the burden on consumers and stabilize the market.
Senator Abubakar Kyari, Minister of Agriculture and Food Security, detailed the initiatives set for implementation over the next 180 days. A key component is a 150-day duty-free import window for certain food commodities, which will help reduce costs for small-scale processors and millers. The government will also import 250,000 metric tons each of wheat and maize to ensure a steady supply for these small businesses.
To support local farmers, the government will boost production by accelerating dry-season farming, mechanization, and irrigation projects. Additionally, efforts will be made to engage youth and women in greenhouse cultivation to increase the production of horticultural crops like tomatoes and peppers. This initiative aims to stabilize prices and address food shortages.
A significant aspect of this plan is the establishment of a Guaranteed Minimum Price (GMP) for various food commodities. This measure will help manage surplus food stocks and restock the National Strategic Food Reserve.
The administration also plans to promote nutrition security through the production of fortified foods and the expansion of the Home Garden Initiative. The Renewed Hope National Livestock Transformation Implementation Committee will be inaugurated to develop policies prioritizing livestock development.
These measures, coordinated by the Presidential Food Systems Coordinating Unit (PFSCU) and the Economic Management Team (EMT), are designed to ensure public participation and accountability. Senator Kyari emphasized the government's commitment to preventing hunger and establishing sustainable food systems in Nigeria.
