Immediate Relief for Essential Imports
The Federal Government of Nigeria has suspended duties, tariffs, and taxes on several staple foods. Immediately effective, this directive applies to imports via land and sea borders, aiming to ease Nigeria’s rising cost of living.
Details from the Minister of Agriculture
During a press conference at the National Press Centre in Abuja, Minister of Agriculture and Food Security, Abubakar Kyari, outlined the government’s plan. The 150-day Duty-Free Import Window covers maize, wheat, husked brown rice, and cowpeas. This initiative is part of the broader Presidential Accelerated Stabilization and Advancement Plan, aimed at achieving food security and economic stabilization.
Government’s Strategy to Combat Food Inflation
The announcement responds to severe food inflation, which has pushed prices of essential goods to unprecedented levels. Minister Kyari emphasized the government’s commitment to ensuring that these staple foods become more affordable and accessible to all Nigerians.
Additional Measures and Long-term Plans
Kyari also shared that, in addition to private sector imports, the government will directly import significant quantities of wheat and maize. These imports aim to support small-scale processors and millers across the country, further bolstering Nigeria’s food supply chain.
Renewed Focus on Livestock Development
Further supporting agricultural stability, the Federal Government has inaugurated the Renewed Hope National Livestock Transformation Implementation Committee. This body is tasked with developing and implementing strategies that align with the National Livestock Transformation Plan, emphasizing sustainable livestock development.
Impact and Outlook
These strategic interventions aim to address immediate economic pressures and promote sustainable agricultural development. Removing financial barriers to staple food imports ensures food security, fostering stability and prosperity nationwide.
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