• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

Hunger Humbles Nigerians As Gov’t’s Food Import Waiver Fails

10 months ago
in Agribusiness, Business, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
93
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Hunger Humbles Nigerians As Gov’t’s Food Import Waiver Fails

Several Nigerian families are struggling to have three square meals in 24 hours as the federal government’s promised food import waiver on essential food items failed to kick off in 2024.

“I had expected the food import waiver to take effect last year, but that did not happen. Currently, I spend 65 percent of my earnings on food. The rest goes into transport and other essential things. I do not even have anything left to save or invest,” said Lagos-based Ibrahim Wahab, who has a family of four.

The directive for the federal government’s food import waiver was contained in a July 2024 letter issued by the Federal Ministry of Finance.

The ministry had explained that the suspension of import duty on rice, wheat, maize and other essential food items was aimed at ameliorating the surging cost-of-living crisis in Africa’s most populous nation.

The import waiver window was to run from July 15 to December 31, 2024.

Food items like rice, husked brown rice, grain sorghum, and beans, had a duty rate levy ranging from 5 percent to 30 percent.

RelatedPosts

GHASALC Relaunches Industry Games After Eight-Year Hiatus as Bayport Savings and Loans Headlines 2025 Edition

IFRIG Ghana Wins Islamic Finance Institution of the Year at AICIF 2025

African Development Bank Piloting Several Financial Instruments to Support African Countries in Tackling Climate Change

Fingers Pointed at Ministry of Finance

Abdullahi Maiwada, national public relations of the Nigeria Customs Service (NCS), had told BusinessDay in September 2024 that the reason for the delay in the implementation of the policy was the Federal Ministry of Finance’s failure to forward a list of importers and companies qualified to participate as stipulated in the guidelines.

“The moment the Customs issued the guidelines conveying the approval of the Federal Ministry of Finance, technically, the implementation started. But since the guidelines came from the Federal Ministry of Finance, they are also supposed to provide the list of the importers qualified to benefit from the import waiver,” Maiwada said.

Up till December 2024, the ministry did not forward the list to the Customs and it did not provide an explanation when BusinessDay contacted it.

Hunger rising

More than 67 Nigerians, including children, died in stampedes during the festive season while scampering for food palliatives by charity bodies. Analysts say the situation shows the depth of hunger in Africa’s most populous nation.

The World Food Programme said in late 2024 that 33 million Nigerians could face hunger in 2025, representing a jump from 25 million citizens who faced starvation last year.

“Never before have there been so many people in Nigeria without food,” Chi Lael, WFP spokesperson for Nigeria, told journalists in Geneva in 2024.

President Bola Tinubu’s bold but costly reforms, including devaluation of the country’s currency and removal of petrol subsidies, have raised the cost of living crisis across the board in Nigeria.

In November, inflation soared to 34.6 percent, the highest in 28 years, while food inflation peaked to 39.9 percent in the same period.

The average cost of preparing a pot of Jollof rice, a popular Nigerian delicacy for a family of five, rose by 5.1 percent to N21,300 in four months to September 2024, according to the Jollof Index report.

Currently, prices of a 50kg bag of rice — both local and foreign – cost an average of N100,000, respectively, higher than Nigeria’s minimum wage of N70,000. The price of food items such as beans, cassava, potatoes, among others, have jumped by over 100 percent in one year, with insecurity seen as a major culprit.

The non-implementation of the import waiver in 2024 is seen as a major blow to the majority of Nigerians who had hoped on the waiver to breathe a sigh of relief.

“The impact of a lot of what we experienced in 2024 such as flooding, drought in northern states and climate impacts on food production will be seen in 2025,” said Abiodun Olorundero, managing partners at Prasinos Farms, in a telephone interview.

“Therefore, something has to be done fast,” he emphasised.

According to him, efforts to double food production should be in place in 2025, lest the country sees its worst food crisis in decades.

Daniel Brown, a food importer, said: “The cost of food and other items would have reduced if the policy had been implemented from July 2024. However, non-implementation of the policy means lack of coordination on the part of government agencies – all to the detriment of Nigerians.”

Source: businessdayng
Via: NorvanReports
Tags: Food Import WaiverhungerHunger Humbles Nigerians As Gov’t’s Food Import Waiver Fails

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

COP30: African Development Bank to Champion Africa’s Push for Climate Finance Reform and Just Energy Transition

A Crisis of Abundance: Why Ghana’s Grain Farmers Are Burdened by Their Own Harvest

Djokovic and Sabalenka Set for Final Showdowns in Athens and WTA Finals

Ghana Premier League Matchday 9 Preview

Lando Norris Secures Pole Position for Brazilian Grand Prix Sprint Race

Beyond the Headlines: A Love Letter to Journalism 

Trending

Business

GHASALC Relaunches Industry Games After Eight-Year Hiatus as Bayport Savings and Loans Headlines 2025 Edition

November 8, 2025

GHASALC Relaunches Industry Games After Eight-Year Hiatus as Bayport Savings and Loans Headlines 2025 Edition The Ghana...

IFRIG Ghana Wins Islamic Finance Institution of the Year at AICIF 2025

November 8, 2025

African Development Bank Piloting Several Financial Instruments to Support African Countries in Tackling Climate Change

November 8, 2025

COP30: African Development Bank to Champion Africa’s Push for Climate Finance Reform and Just Energy Transition

November 8, 2025

A Crisis of Abundance: Why Ghana’s Grain Farmers Are Burdened by Their Own Harvest

November 8, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.