In response to soaring food prices, the Nigerian government has introduced a 150-day duty-free import window for key agricultural products. This measure aims to alleviate the rising inflation of food items in the country.
Minister of Agriculture and Food Security, Abubakar Kyari, announced that the duty-free imports will include maize, brown rice, wheat, and cowpea.
The initiative will allow the government to import 250,000 tonnes of wheat and 250,000 tonnes of maize, providing essential supplies to the country’s small processors and millers.
The decision comes amid a significant increase in food prices in 2023, during which Nigeria spent $2.13 billion on food imports. Despite efforts to boost local production, challenges such as poor infrastructure, insecurity, and climate change have hindered progress.
The semi-processed state of the imported food products is intended to bolster the domestic agricultural sector and support small-scale food processors across the nation.
This strategic move Economic expert says, underscores the government’s commitment to addressing food security and stabilizing prices in a country heavily affected by economic and environmental challenges.
Report by Fatimah Ibrahim