Nigerian Government Continues Zero-Duty on Food Imports to Combat Inflation

In a decisive effort to combat rising food prices and ease inflationary pressures, the Federal Government has introduced a proposal for a temporary zero-duty levy on certain food imports into Nigeria. 

This initiative, announced by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, was detailed in a statement signed by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance. The goal is to increase food availability, lower prices, and reduce the financial strain on Nigerian citizens.

This initiative, announced by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, was detailed in a statement signed by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance. The goal is to increase food availability, lower prices, and reduce the financial strain on Nigerian citizens.

Mr. Edun unveiled the plan after a closed-door meeting with the Nigeria Customs Service Board in Abuja, where key stakeholders discussed strategies to combat the country's food supply crisis. "The Minister stressed that this temporary measure is crucial in addressing the sharp rise in food costs, a major driver of inflation across the nation," Manga stated.

"We have discussed how to collaborate effectively to make food more affordable and accessible in the short term," Mr. Edun said, underlining the urgency of the situation.

In addition to the zero-duty food import proposal, the Nigeria Customs Service Board continues to hold regular meetings to assess the agency’s financial performance and operational activities, ensuring alignment with the Federal Government’s broader economic objectives.

Mr. Edun reaffirmed the government’s commitment to addressing both short- and long-term food security challenges, working closely with the NCS and other relevant agencies to implement policies that will benefit millions of Nigerians.

To book your stand at Africa's largest Food and Beverage Trade event, Click Here