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FG opts for duty-free imports of essential commodities

today07/09/2024 1

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The Federal Government is planning to suspend duties, tariffs, and taxes on some essential food items imported through land and sea borders.
It was gathered yesterday that the decision was informed by the need to bring down the cost of food items which have hit the roof, making life unbearable for Nigerians.
Consequently, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) and Centre for Promotion of Private Enterprises (CPPE) in a swift reaction, lauded the government’s decision stating that it would have positive impact on inflation.
The listed food items which includes maize, wheat, husked brown rice, and cowpeas, would enjoy a 150-day duty-free import window.
The Federal Government said it has recognised the fact that the prices of food items have over the past several months increased in all parts of the country, making life difficult for the people.

Written by: bossgmsi

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