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Wednesday, July 31, 2024

Nigerian Govt Suspends Import Duties And Taxes On Essential Food Item To Curb Food Inflation

Comptroller-General of Customs, Adewale Adeniyi The Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adeniyi has announced the suspension of import duties and taxes on essential food items to make basic necessities more affordable for Nigerians and address the prevalent food inflation in the nation.




In a public address on Monday evening, Adeniyi acknowledged the widespread economic challenges and outlined the government's commitment to easing the financial burden on its citizens.

He acknowledged that global inflation is impacting nations worldwide, including Nigeria, noting that to address this, the federal government, through the Nigeria Customs Service, is suspending import duties and taxes on essential food items to make them more affordable.
Adeniyi also stated that the NCS has streamlined export processes to facilitate the efficient movement of Nigerian goods to international markets.

He said this initiative includes the introduction of advanced ruling systems, authorised economic operators, and a time-release study designed to enhance trade, stimulate the economy, and create new opportunities.

Adeniyi emphasised that these reforms will provide farmers, artisans, and entrepreneurs with a faster path to global markets, thereby benefiting their families and communities.
"We are committed to implementing this measure seamlessly to address the problem of hunger in our nation," he added.

He said in addition to economic measures, the NCS is intensifying its efforts to combat the proliferation of arms and dangerous weapons through Nigeria's land, sea, and airports.
Adeniyi stressed the importance of collective efforts and peaceful progress to strengthen the country's borders.
He warned that the destruction of the supply chain affects foreign investment, distorts trade, promotes instability, increases scarcity, and hinders revenue collection.

22 comments:

  1. They wait until it becomes unbearable and there are treats to do what’s required.How are people so wicked?

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  2. We need more proactive measure Tinubu do more. I pray u receive wisdom

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  3. Now they are waking up to their responsibilities .

    We expect more positive actions/reforms in the coming days.

    This red network, please help me browse in peace. 😃

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  4. There’s nothing I hate like that global inflation comment! There’s no country that I know that prices of things have gone up X5 so please, excuse me with that nonsense excuse!

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    1. They really underrate the intelligence of the citizens.
      It's funny that several countries such as Canada, US and even Namibia are experiencing an oil boom. This has resulted in economic prosperity for many oil counties.
      But it's only in Nigeria that we keep on hearing about this mysterious "global inflation" that is making commodities increase 10 times .

      Delete
  5. So why did they wait till now?

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  6. Replies
    1. Is the beginning of doing the right thing

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  7. This just shows that the government deliberately put Nigerians into this hardship. They knew the right to do, but held back so that the citizens would continue to go hungry.

    The ultimate aim was to weaponize hunger, so that when little crumbs are given in the name of economic empowerment, people would see them as "gods" and would do anything to please them.
    All the same, I thank God they are now listening.

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    Replies
    1. They are listening! It's already too late! A country that can pay every Nigerian 2m and still not be shaken; decided that humans like them , should start eating grass first.
      Dubai locals don't work, but are paid ! We Niger Deltans don't even care , if this wealth from our region is used to take care of the common man , because is God's gift to us! But the minute , evil humans that call themselves rogues in power; decided to make people less humans over their own resources; then they will face the 🎶 music.
      Nigerians must take back their country not even through protest, but legally! Taking APC to the ICJ for crimes against humanity.

      Delete
    2. They are still not serious..
      Reduce fuel back to it old price, no, they continue chasing shadows.. this is the cause of the inflation..

      They'll never treat a situation until it becomes a problem, everything is a game to them.. see thugs making threats against protesters/protesting, but they'll come out to gaslight and say it's the protesters that are not peaceful..

      They don't have any sense at all, they think threat would do anything, the only thing threat would cause is more problems..

      Then this light tariff too is another thing

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    3. @ Anon 10:25, Lol @ crimes against humanity . Really, this Government has shown us plenty shege.

      @ Dante, I totally agree with you. What caused this inflation was the day the President removed subsidy. How can someone on the first day of his job, just increase fuel price without thinking about the effects it would have on the citizens. They claimed that in 6 months, the money realised from the subsidy removal will be used to build refineries. Till now, not one refinery has been completed, fuel price continues to go up, and the economy is in a total mess.
      The same way they woke up one day and increased electricity bills without even sparing a thought to the common man.

      Nigerian politicians are a special breed.

      Delete
  8. I thought they already did this a while back

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  9. What does this mean to the layman?

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  10. There eyes Just Open
    They should better do more better
    And be fast about it..


    Hello iya Boys

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  11. Na only God fit help Nigeria and it citizens

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  12. Why can't they just open the border.

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  13. By what measure did they categorize the “Essential food items” and can we know which ones specifically so we can know what to expect gangan?

    Because as far as I know, all food items are essential. All food items have also suffered inflation. Which ones should we look out for to experience price drop in the coming weeks?

    Rhod3s

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    Replies
    1. Essential are typically things that a large majority of ppl use. Salt, flour, rice , sugar, bread, milk…and thinks of that nature

      Delete
  14. They are still throwing crumbs. What will matter is the price of fuel. The hat is the main driver. Cost of fuel should be reduced.

    ReplyDelete

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