FG opts for duty-free imports of rice, wheat, beans, others
THE Federal Government is planning to suspend duties, tariffs, and taxes on some essential food items imported through land and sea borders. Vanguard gathered yesterday that the decision was informed by the need to bring down the cost of food items which have hit the roof, making life unbearable for Nigerians. Consequently, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, NACCIMA, and Cengtre for Promotion of Private Enterprises, CPPE, in a swift reaction, lauded government’s decision, saying it would have positive impact on inflation. A source also said the listed food items, which include maize, wheat, husked brown rice, and cowpeas, would enjoy a 150-day duty-free import window. The source said the government recognised trhe fact that the prices of food items have over the past several months increased in all parts of the country, making life difficult for the people. ‘’The affordability crisis in our food security system has been indexe...