The Nigeria Customs Service (NCS) has announced the suspension of import duties and taxes on essential food items. This decision was disclosed by the Customs Comptroller General, Bashir Adewale Adeniyi, in a video posted on X. The suspension aims to make these essential food items more affordable for Nigerians, particularly in the face of rising global inflation.
Adeniyi acknowledged the impact of global inflation, noting that it has affected many countries, including Nigeria. He emphasized that the NCS is dedicated to executing the Federal Government’s directive to suspend tariffs on essential items. This measure is part of a broader effort to alleviate the economic burden on the population and ensure access to basic necessities.
The Customs chief also highlighted the potential risks associated with disruptions in the supply chain. He warned that such disruptions could negatively impact foreign investments, distort trade activities, promote economic instability, increase scarcity of goods, and hinder the government’s ability to collect revenue effectively.
The NCS’s decision to suspend import duties and taxes on essential food items underscores a commitment to mitigating the effects of global economic challenges on Nigerians. By reducing costs on essential goods, the government aims to support the population during these economically challenging times.
“Global inflation is impacting nations worldwide, including Nigeria. To address this, the federal government through the Nigeria Customs Service is suspending import duties and taxes on essential food items to make them more affordable.
“We’re committed to implementing this measure seamlessly to address the problem of hunger in our nation. We have streamlined export processes to ensure Nigerian goods reach international markets efficiently.”
“Global inflation is impacting nations worldwide, including Nigeria. To address this, the federal government through the Nigeria Customs Service is suspending import duties and taxes on essential food items to make them more affordable.”
“We’re committed to implementing this measure seamlessly to address the problem of hunger in our nation. We have streamlined export processes to ensure Nigerian goods reach international markets efficiently.”
The Customs chief warned that disruptions in the supply chain will affect foreign investments, distort trades, promote instability, increase scarcity and hinder revenue collection.
