Customs Finally Suspends Import Duties, Taxes on Essential Food Items
Nigeria Customs Service Suspends Import Duties on Essential Food Items to Address Food Shortage
As part of measures to address the food shortage in the country, the Nigeria Customs Service has announced the suspension of import duties and taxes on essential food items.
Mr. Wale Bashir Adeniyi, the Comptroller General of the Nigeria Customs Service, announced the suspension to make food items more affordable for Nigerians amid the high food inflation rate in the country. He emphasized the government’s commitment to easing the financial burden on citizens amidst global inflation.
Key Measures Announced
Mr. Adeniyi highlighted the following key measures:
- Suspension of Import Duties: Essential food items will be exempt from import duties and taxes, aiming to reduce food prices and alleviate the impact of high food inflation on Nigerians.
- Streamlined Export Processes: The Nigeria Customs Service has streamlined export processes to facilitate the efficient movement of goods to the international market.
Challenges Affecting Food Production
The combination of insecurity in Nigeria’s food belts across the North-West, North-Central, and North-East regions has adversely affected farming and food production. Rising energy costs and logistics challenges have also contributed significantly to the increasing food inflation in Nigeria.
Current Food Inflation
Nigeria’s current food inflation stands at 40.87%. According to Proshare, food inflation averaged 39.24% in the first half of 2024, up from 24.94% in the first half of 2023. The South-South region, comprising Akwa Ibom, Bayelsa, Cross River, Delta, Edo, and Rivers States, remains the region with the most expensive food prices.
Public Response and Protests
Nigeria has witnessed three days of nationwide protests over hunger and the need to end bad governance, as citizens express their displeasure over the cost-of-living crisis. The government’s decision to suspend import duties on essential food items is a direct response to these protests, aiming to address the immediate concerns of the populace and mitigate the ongoing food crisis.
What You Should Know
The suspension of import duties on essential food items is expected to provide relief to Nigerians by making food more affordable. The government’s actions reflect a broader commitment to addressing food inflation and supporting the livelihoods of citizens during challenging economic times.
