In an effort to reduce the cost of essential food items in the market, the Nigerian Customs Service (NCS) has started implementing President Bola Ahmed Tinubu’s initiative to suspend import duty collection on these items.
The statement was made by the Comptroller General of Customs, Bashir Adewale Adeniyi, in a recent press release on Monday.
Highlighting the global impact of inflation affecting Nigeria and other nations, Adeniyi stated, “To counter this trend, the Federal Government, through the Nigeria Customs Service, is waiving import duties and taxes on essential food items to make them more accessible to the citizens.”
He also mentioned that efforts have been made to simplify export processes in the country.
“We have implemented measures such as the Advance Ruling Systems, Authorised Economic Operators (AEOs), and Time Release Studies to facilitate trade, boost the economy, and open up avenues for growth,” added CGC Adeniyi.
He further emphasized the collaboration between Customs and other security agencies to tackle the smuggling of arms and dangerous weapons through various border points.
Earlier, the government had announced a plan to enforce a 150-day duty waiver on staple food items as a strategy to combat the surging prices of food commodities in Nigeria.
The move comes at a time when the country’s food inflation rose to 40.87 percent in June 2024.