As part of measures to address the food shortage experienced in the country, the Nigeria Customs Service has announced the suspension of import duties and taxes on essential food items.
Mr. Wale Bashir Adeniyi, the comptroller general of the Nigeria Customs Service announced the suspension of import duties to make food items more affordable for Nigerians and the high food inflation rate in the country.
The Customs Comptroller General also outlined the government’s commitment to easing the financial burden on citizens amidst global inflation.
He also mentioned that the Nigeria Customs Service has streamlined export processes to facilitate the efficient movement of goods to the international market.
The combination of insecurity in Nigeria’s food belts across the North-West, North-Central, and North-East has adversely affected farming and food production.
In addition, rising energy costs and logistics challenges have contributed immensely to the rising tide of food inflation in Nigeria.
Nigeria’s current food inflation is 40.87%, while according to Proshare, it averaged 39.24% in H1, 2024 from 24.94% in H1, 2023.
The South-South region comprising Akwa Ibom, Bayelsa, Cross River, Delta, Edo, and Rivers States remained the region with the most expensive food prices.
Nigeria has witnessed three days of nationwide protests over hunger and the need to end bad governance, as citizens express their displeasure over the cost-of-living crisis.
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