By Hope-Feyisayo Temitope
In an attempt to reduce the hike in food commodities in the country, the Federal Government of Nigeria is considering the suspension of tariffs duties, and taxes on the importation of key food commodities on both land and sea boarders.
The initiative is part of the Presidential Accelerated and Stabilisation Advancement Plan aimed at stabilising food prices and ensuring adequate supply across the country.
The Federal Government plans on the importation of food commodities, including 250,000MT of wheat and 250,000MT to support small-scale processors and millers nationwide.
Newsmen revealed that government plans a continuous ramp-up of production for the 2024/2025 farming cycle, a sustained support to small holder farmers in the ongoing wet season farming through existing government initiatives, and strengthening and the fast approaching dry season farming across the country.
The plans includes setting Recommended Retail Prices for these commodities and engaging stakeholders to establish a Guaranteed Minimum Price. Measures also involve ramping up agricultural production for the upcoming farming cycles, supporting smallholder farmers during the wet season, and boosting productivity through agricultural mechanization and irrigation development.
Furthermore, initiatives such as greenhouse cultivation for horticultural crops and collaborations with security agencies to cultivate arable lands underscore the government’s commitment to enhancing food security and stabilising prices.
The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Oye, has commended government’s decision to suspend duties, tariffs, and taxes on the importation of key food commodities.
The NACCIMA President applauded the 150-day duty-free import window for essential items, describing it as a commendable move that will stabilize food prices and provide much-needed relief to millions of Nigerians.
Mr Oye added that NACCIMA stands ready to support the government in these efforts, ensuring that the strategic importation of food commodities complements rather than undermines the country’s domestic agricultural production.
