The president Bola Tinubu has approved the import duty waiver on food items in a circular, which was released on Wednesday. Following the approval from the president, the custom revealed that the procedure had already started since the 15th of July, 2024. Although it was again suspended by the federal government but it was reapproved by the president on the 14th of August.
The National custom service controller- general, C.K Niagwan lists out all the food items to be imported which includes, husked brown rice, millet, maize, grain, beans and wheat.
The NCS said the import duty waiver will be implemented in a week’s time.
Wale Edun, the minister of finance, in a letter said the “measure which is geared towards ameliorating the high cost of food items in the Nigerian market shall be limited to the national supply gap to be determined by a committee set up by the Minister”.
The Minister also said that importers who are applying for the duty waiver must have milling capacity and a backward integration programme (BIP).
“The importation of these items shall also be limited to investors with milling capacity and verifiable Backward Integration Programme (BIP) for some of the items,” the minister said.
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