Edun meets Customs on implementation of zero duty on food imports

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Board of the Nigeria Customs Service (NCS) has met on implementation of the zero percent duty on selected food imports.

The Ministry of Finance disclosed this in a statement on X on Wednesday.

Edun noted that the tax waiver would tackle the ongoing food shortage and curb rising food prices in the country.

He said: “We discussed how to collaborate effectively to make food more affordable and accessible in the short term.

“This zero-duty measure is a temporary solution, but the administration is focused on long-term strategies to boost domestic food production.”

READ ALSO: Nigerians spend $1.04bn on food imports in six months

The meeting followed the federal government’s July 10 decision to suspend taxes on the importation of food through land and sea borders to reduce inflation.

The duty waiver, meant to take effect from July 15 is limited to maize, husked brown rice, wheat, and cowpeas.

However, Customs has not commenced implementation.

Speaking at the meeting, the minister said the government is making efforts to provide essential farming inputs such as fertiliser and seeds, particularly for small-scale farmers.

He added that the farming inputs would enhance local food production and ensure food security in the long run.

Edun commended the Customs Board for its regular meetings to review the service’s financial performance and operational activities.

By: Babajide Okeowo

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