Import Duty Waiver on Rice and Other Food Items Starts Next Week – FG

The Federal Government announced on Tuesday that the suspension of customs duties and taxes on imported food items will begin next week. In July, the government approved a 150-day duty-free window for importing maize, husked brown rice, and wheat to combat rising food inflation nationwide. This measure is part of the Presidential Accelerated and Stabilisation Advancement Plan.

At a meeting of security agency heads in Abuja, the Comptroller-General of Customs, Bashir Adeniyi, stated that the policy implementation would start once the guidelines are finalized. He noted that the delay was to ensure all stakeholders, including farmers, were considered.

Adeniyi urged Nigerians to be patient, indicating that some imported items already in the country would be cleared without duty and taxes. He emphasized the need to balance the long-term interests of Nigerian farmers with the short-term goal of reducing food inflation.

“The guidelines are being worked out at the Ministry of Finance and will be ready within the next week,” Adeniyi said. “The Nigerian Customs will begin implementing these fiscal policies. We believe this will help lower food prices in the market.”

Adeniyi reiterated the commitment of the Customs service to the policy, highlighting the government’s efforts to address hunger through various interventions, including the distribution of strategic food items from national grain reserves.

He explained that many food items consumed in Nigeria are imported and that suspending customs duties and taxes would help mitigate cost inflation. “This intervention is designed to cushion the impact of inflation by temporarily suspending customs duties and taxes on imported food items,” Adeniyi added.