Nigeria suspends import duties, tariffs, and taxes on food commodities for 150 days to combat rising food prices and address food inflation.
Nigeria's government has announced a 150-day suspension of duties, tariffs, and taxes on the importation of food commodities, including maize, wheat, husked brown rice, and cowpeas, as part of measures to combat rising food prices and address the ongoing food inflation crisis. This initiative, referred to as the Presidential Accelerated Stabilization and Advancement Plan, aims to achieve food security and economic stability. Food commodities imported during this period will adhere to recommended retail prices (RRP) to maintain consumer safety standards.
July 08, 2024
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