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    Monday, July 8, 2024

    FG Suspends Certain Food Items’ Tax and Import Duties

    The Nigerian government has temporarily suspended taxes and import duties on maize, wheat, and brown rice.

    The Federal Government has made an announcement on Monday regarding the temporary suspension of duties, tariffs, and taxes for the importation of certain food items via land and sea borders.

    The food Items consist of corn, unprocessed brown rice, wheat, and black-eyed peas.

    Abubakar Kyari, the esteemed Minister of Agriculture and Food Security, made a significant announcement regarding the implementation of a 150-Day Duty-Free Import Window for various food commodities. This initiative aims to address specific challenges and ensure the availability of essential food items in the country.

    During a press conference held in Abuja, Kyari announced the implementation of a 150-Day Duty-Free Import Window for specific food commodities. This entails the temporary suspension of duties, tariffs, and taxes associated with the importation of certain food items via land and sea borders. The commodities covered under this initiative 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 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 the importation by private sector, Federal Government will import 250,000MT of wheat and 250,000MT of maize. The imported food commodities in their semi processed state will target supplies to the small-scale processors and millers across the country.”

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