Why I support the suspension of tariffs on food imports into Nigeria – President Tinubu

President Bola Tinubu has explained his reasons for temporarily suspending import duties on selected food items into the country.

Speaking at the public launch of Olusegun Osoba’s book, My Public Life, in Lagos on Saturday, Tinubu, represented by Vice President Kashim Shettima, said these measures are aimed at tackling food shortages and improving affordability for consumers.

According to the President, the measures announced by the Minister of Agriculture and Food Security, Abubakar Kyari, earlier this week are short-term measures to combat rising food prices across the country.

“We are taking action to combat food shortages by temporarily lifting tariffs on imported grains and other food products,” said President Tinubu.

Meanwhile, the president said he was committed to food security and supply in the country.

He stated that his government would continue to promote local production to ensure that Nigeria produces what it consumes in the long term.

“We will continue to promote local production and ensure that what we eat and use is produced locally,” he added.

Background story

Nairametrics had earlier reported that Agriculture Minister Abubakar Kyari had approved a 150-day duty-free period on imports of maize, husked brown rice and wheat as part of his measures to combat rising food inflation in the country.

According to him, the federal government hopes to get the food security problem under control in the next 180 days by granting a 150-day import grace period for certain food items.

The Agriculture Minister also noted that the ministry will work with the Presidential Food Systems Coordinating Unit and the Economic Management Team (EMT) over the next 14 days to finalise the implementation framework for the policy initiatives.

“A 150-day duty-free import window for food products Suspension of duties, tariffs and taxes on the import of certain food products (via land and sea borders)

“These raw materials include corn, husked brown rice, wheat and cowpeas.

“Under this regulation, a recommended retail price (RRP) will apply to imported foodstuffs,” he said.

What you should know

Since the exemption from import duties on certain food products was approved, individual stakeholders, particularly farmers, have spoken out against these measures.

Farmers are convinced that this policy will hinder local food production in the country and reduce self-sufficiency in agriculture.

President Tinubu had previously stated that his government would not resort to food imports.

However, given the high prices of staple foods in the market and food inflation of over 40 percent, many households are expected to receive some relief from the new exemption from the obligation to import food items into the country. This will help bridge the supply gap and create more affordable prices.