The Nigeria Customs Service (NCS) has commenced the implementation of the Federal Government’s fiscal policy removing import duties and taxes on essential food items as part of its efforts to achieve food security in the country.
The Comptroller-General of the Service, Adewale Adeniyi, who confirmed the commencement of the implementation of the fiscal regime in a post on X, stated the suspension was to make food items affordable for Nigerians.
Adeniyi noted that the surging global inflation was adversely affecting many countries, including Nigeria, and restated the NCS’ commitment to implementing the government’s fiscal measure on the suspension of tariffs on essential items.
He stated: “Global inflation is impacting nations worldwide, including Nigeria. 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.
“We’re committed to implementing this measure seamlessly to address the problem of hunger in our nation. We have streamlined export processes to ensure Nigerian goods reach international markets efficiently”, the CGS added.
Adeniyi cautioned that disruptions in the supply chain would affect foreign investments, distort trades, promote instability, increase scarcity and hinder revenue collection.
