FG suspends taxes on yam, rice, other food products

The federal government has approved a 150-day duty-free importation of maize, husked brown rice and wheat as part of measures to combat rising food inflation in the country.

Briefing newsmen in Abuja on Monday, Senator Abubakar Kyari, Minister of Agriculture and Food Security, said the initiative suspends duties, tariffs, and taxes on these imports through both land and sea borders.

The measure is part of the implementation of the Presidential Accelerated and Stabilisation Advancement Plan (ASAP).

While addressing concerns about the quality and genetic composition of the imported foods, the minister assured that the government would uphold safety standards.

The minister said: “The Federal Government has announced a 150-day Duty-Free Import Window for Food Commodities, suspension of duties, tariffs and taxes for the importation of certain food commodities (through land and sea borders). These commodities include maize, husked brown rice, wheat and cowpeas.

“Under this arrangement, imported food commodities will be subjected to a Recommended Retail Price (RRP).

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“I am glad to reiterate that the Government’s position exemplifies standards that would not compromise the safety of the various food items for consumption.

“In addition to the importation by the private sector, the Federal Government will import 250,000MT of wheat and 250,000MT of maize. The imported food commodities in their semi-processed state will target supplies to the small-scale processors and millers across the country.”