NewsHigh Cost Of Foodstuffs: FG Removes Duties On Rice, Wheat Others

High Cost Of Foodstuffs: FG Removes Duties On Rice, Wheat Others

July 8, 2024

By Ayodele Oni

The Federal Government has unveiled a series of initiatives to combat the escalating food prices Nationwide.

The Minister of Agriculture and Food Security, Abubakar Kyari, announced in a statement that these measures would be implemented within the next 180 days.

“One key measure is a 150-day duty-free import window for certain food commodities, which includes suspension of duties, tariffs, and taxes on their importation through land and sea borders.

“The prioritized commodities include maize, husked brown rice, wheat, and cowpeas.”

Kyari added that imported food commodities would be subject to a Recommended Retail Price (RRP) under this arrangement.

The Government is also committed to ensuring the quality of imported produce.

“In addition to private sector imports, the Federal Government will import 250,000 metric tonnes of wheat and 250,000 metric tonnes of maize.

“These semi-processed imports will be supplied to small-scale processors and millers across the country.

“The Government plans to engage relevant stakeholders to establish a Guaranteed Minimum Price (GMP) and manage surplus food commodities to restock the National Strategic Food Reserve.

“A strategic engagement programme for youth and women across the federation will focus on greenhouse cultivation of horticultural crops such as tomatoes and peppers to boost production, stabilize prices, and address food shortages.

“Additionally, the Government will launch the ‘Renewed Hope National Livestock Transformation Implementation Committee’ on Tuesday, July 9, 2024, to develop and implement livestock development policies aligned with the National Livestock Transformation Plan.

“The Tinubu administration also plans to enhance support for the Homes Green Initiative, spearheaded by the office of the First Lady of the Federal Republic of Nigeria.

“The success of these measures depends on the cooperation and collaboration of all relevant Ministries, Departments , Agencies, and stakeholders.”