The decision of the Federal Government to remove tariff on staple food imports is expected to result in a loss of N188.37 billion in customs duties over the next six months, as the country seeks to address its current food crisis. Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi made this known on Tuesday while presenting a document on facilitating food trade through an efficient customs process......See Full Story>>.....See Full Story>>
President Tinubu had in July this year announced suspension of import duties on essential food items as part of the strategies to cut high food prices and stem the nationwide hunger in Nigeria.
The President had said the government has decided to forfeit the expected revenue from the implementation of the items to guarantee food security and price control for Nigerians.
He promised to deploy specially trained officers of the NCS to carry out the implementation of the policy for effective delivery in line with the agenda of the President.
The Customs CG says despite this loss that will be incurred by Customs, the Service is committed to implementing the initiative through renewed strategies, which include opening of special corridors to expedite clearance of the listed items and real time monitoring of the initiative.