•The government opens a five-month duty-free import window for wheat, rice, maize, and other products.
•FG will work with the military and governments to develop agricultural land and assist smallholder farmers.
A 150-day duty-free import window for food goods was announced by the Federal Government on Monday as part of its increased efforts to combat increasing inflation, which has left many Nigerians poor.
Additionally, the government announced its intention to work with the states to increase land cultivation nationwide.
Consequently, the government suspended duties, tariffs and taxes for the importation of certain food commodities through land and sea borders.
Among other things, the latest directive is expected to reduce demand for forex by food importers. In 2023, Nigerians spent $2.13bn to import food items from foreign countries.
The quarterly statistics of the Central Bank of Nigeria showed that the country exported large amounts of food from foreign countries despite being touted as the food basket of Africa.
The administration is concerned about the high cost of food imports. The nation has a sizable agricultural industry, and initiatives have been made to increase domestic output in order to lessen reliance on food imports. However, issues including poor infrastructure, instability, and climate change have made it more difficult for the industry to advance.
However, analysts argue that the most recent decree permitting free food imports is a glaring example of how the Nigerian government has not yet set the country up to achieve the Sustainable Development Goals of the United Nations, which call for the eradication of famine by 2030.
The government had earlier ruled out the importation of food as part of strategies to address the high costs of foodstuffs and the economic hardship troubling the country.
Speaking at the press conference held in Abuja, the Minister of Agriculture and Food Security, Abubakar Kyari, said that 150 days of duty-free imports would be valid for commodities including maize, husked brown rice, wheat, and cowpeas.
The initiative which is part of the Presidential Accelerated Stabilisation and Advancement Plan would also enable the Federal Government to import 250,000 metric tonnes of wheat and 250,000MT of maize.
It clarified that the country’s small-scale processors and millers would get supply of the imported food commodities in their semi-processed stage.
“To alleviate food inflation in the nation, which is aggravated by availability and affordability, the government has taken a raft of measures to be implemented over the next 180 days,” Kyari stated.
