Business
FG suspends taxes on importation of food commodities
The federal government has officially announced the suspension of duties, tariffs, and taxes on the importation of food commodities.
Abubakar Kyari, minister of agriculture and food security, announced the development in a post on social media on Wednesday, detailing the federal government’s measures to address the high food prices currently affecting the nation.
Part of the measures, according to the statement, is a 150-day duty-free import window for food commodities, which involves the suspension of duties, tariffs, and taxes for the importation of food commodities — maize, husked brown rice, wheat, and cowpeas — through land and sea borders.
READ ALSO: Food Security: FG targets increase in staple crops to 135 million metric tons
“These measures will be implemented over the next 180 days,” Kyari said.
“Imported food commodities will be subjected to a Recommended Retail Price (RRP).
“We understand concerns about the quality of these imports, especially regarding their genetic composition. The government assures that all standards will be maintained to ensure the safety and quality of food items for consumption.”
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