Edun urges fast-tracking zero-duty on food imports amid price surge

Minister of Finance Wale Edun announced that a meeting with the Nigeria Customs Service (NCS) board was held to expedite the implementation of the zero percent duty on selected food imports.

The tax waiver, designed to address the ongoing food shortage and soaring prices, is part of the government’s temporary measures to make food more affordable.

In a statement released on Wednesday via X (formerly Twitter), Edun emphasized that while the zero-duty measure is a short-term fix, the administration is also focused on long-term strategies to boost domestic food production.

The meeting comes after the federal government’s July 10 decision to suspend taxes on food imports through land and sea borders, effective from July 15 to December 31, targeting maize, husked brown rice, wheat, and cowpeas. However, the NCS has yet to implement the policy, citing the need to receive a list of beneficiaries from the ministry.

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“We discussed how to collaborate effectively to make food more affordable and accessible in the short term,” Edun said.

“This zero-duty measure is a temporary solution, but the administration is focused on long-term strategies to boost domestic food production.”

Edun also highlighted ongoing efforts to provide essential farming inputs such as fertilizer and seeds, especially for small-scale farmers, to enhance local food production and ensure long-term food security.

He commended the NCS board for its proactive approach in reviewing the service’s financial performance and operational activities, reiterating the government’s commitment to addressing both immediate and long-term food security challenges.

Also, Edun said the administration of President Bola Tinubu is committed to tackling both short-term and long-term food security challenges while working closely with customs and other stakeholders to ensure smooth implementation of key policies.