Edun meets Customs regarding the implementation of zero import duties for food imports

The Minister of Finance and Coordinating Minister for Economic Affairs, Wale Edun, and the Nigerian Customs Service (NCS) have met to discuss the imposition of zero percent import duty on certain food imports.

This was stated by the Ministry of Finance in a written statement to X on Wednesday.

Edun noted that the tax abolition would address ongoing food shortages 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 duty-free measure is a temporary solution, but the government is focused on a long-term strategy to increase domestic food production.”

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

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

The duty waiver, which is intended to take effect July 15, is limited to corn, brown rice with husks, wheat and peas.

However, Customs has not yet started the implementation.

Speaking at the meeting, the minister said the government was working to provide essential agricultural inputs such as fertilizers and seeds, especially to small-scale farmers.

He added that agricultural inputs would increase local food production and ensure long-term food security.

Edun praised the Board of Customs for its regular meetings to review the financial performance and operational activities of the service.

By: Babajide Okeowo

Edun meets Customs on zero duty on food imports first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.