• 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

Nigeria Customs begins implementation of duties and tax-free imports of essential food items

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Trade
2 min read
0 0
0
88
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Nigeria Customs begins implementation of duties and tax-free imports of essential food items

The Nigeria Customs Service (NCS) has begun implementing duties and tax-free importation of rice, flour, wheat, and other essential food items to help reduce the high costs of food in the country amid the severe hunger crisis in Nigeria. 

The Comptroller-General of the Nigeria Customs Service (NCS), Mr. Adewale Adeniyi, disclosed this during a press briefing on the service’s half-year performance.

He stated that the government is committed to addressing the rising costs of essential food items to reduce hunger in the country.  

He said, “The Nigeria Customs Service (NCS) is suspending import duties and taxes on essential food items to make them more affordable. We are committed to implementing this measure seamlessly to address the problem of hunger in our nation.” 

“We have streamlined export processes to ensure that Nigerian goods reach international markets efficiently. We have introduced tools like Advanced Ruling System, Authorized Economic Operator and Time Release Study to enhance trade, stimulate the economy and create opportunities. Our farmers, artisans and entrepreneurs will now have a faster path to global markets benefitting their families and communities.” 

Backstory  

Earlier in July, the federal government through the Ministry of Agriculture and Food Security announced a 150-day duty-free importation of essential food items such as rice, maize, wheat and cowpea.  

RelatedPosts

Dollar Slides as Trump Fires Fed Governor Lisa Cook

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

The Minister of Agriculture and Food Security, Sen. Abubakar Kyari stated that the policy is part of the implementation of the Presidential Accelerated and Stabilisation Advancement Plan (ASAP), which includes the federal government importing 250,000 metric tonnes of wheat and maize to refill the depleted strategic reserves. 

The policy to import essential food items into the country has drawn the ire of stakeholders in the agricultural sector. Former Minister of Agriculture and current President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina faulted the policy stating that food imports could destroy Nigeria’s agricultural policy.  

Furthermore, the President of the All-Farmers Association of Nigeria (AFAN), Arch. Kabir Ibrahim lamented that the policy would erode the gains made in local production of rice, maize and wheat in the country. 

What you should know  

  • Nigeria is facing one of the worst food crises in a generation, with food inflation surpassing 40% in May 2024. Data from the NBS shows that the prices of staple foods such as rice, maize, wheat, bread, and beans have more than doubled on average over the past year.  
  • Projections from international development organizations, including the World Bank, FAO, and World Food Program (WFP), indicate that around 32 million Nigerians will experience severe hunger in 2024 due to the ongoing food crisis. 

Source: nairametrics
Via: norvanreports
Tags: duties and tax-free importsNigeria CustomsNigeria Customs begins implementation of duties and tax-free imports of essential food items

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

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Trending

Business

Dollar Slides as Trump Fires Fed Governor Lisa Cook

August 26, 2025

Dollar Slides as Trump Fires Fed Governor Lisa Cook President Trump has fired Federal Reserve Governor Lisa...

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

August 26, 2025

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

August 26, 2025

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

August 26, 2025

GSE Opens Week Higher as CPC Posts First Gain of 2025

August 26, 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.