- The Nigeria Customs Service has introduced a zero per cent import duty rate and VAT exemption on select food products, effective from July 15, 2024, to December 31, 2024
- The new policy includes duty-free importation for essential food items such as husked brown rice, grain sorghum, millet, maize, wheat, and beans
- This policy, endorsed by President Bola Tinubu, is designed to support local food security and make essential products more affordable
To alleviate Nigerians' financial burden, the Nigeria Customs Service (NCS) has introduced new guidelines for a zero per cent duty rate on select food items. This initiative, endorsed by President Bola Tinubu, will take effect on July 15, 2024, and remain in place until December 31, 2024.
The new policy seeks to reduce the cost of essential food products, making them more affordable and accessible to the general populace. By waiving import duty and Value Added Tax (VAT) on certain basic food items, the initiative is expected to impact local food security and economic relief significantly.
The NCS has outlined the food items that qualify for the zero-duty importation initiative and detailed guidelines for businesses benefiting from this policy. The guidelines clarify eligibility requirements and compliance protocols to ensure smooth implementation.
Among the fundamental food products covered under this policy are:
Husked Brown Rice (H.S. Code 1006.20.00.00): Previously subjected to a 30% duty rate, this essential staple will now be imported duty-free.
Grain Sorghum – Other (H.S. Code 1007.90.00.00): This grain, which previously faced a 5% duty, will now be imported without any duty.
Millet – Other (H.S. Code 1008.29.00.00): Also previously subject to a 5% duty, millet will now benefit from the zero-duty rate.
Maise—Other (H.S. Code 1005.90.00.00): The previous 5% duty rate on this vital food source will be eliminated.
Wheat – Other (H.S. Code 1001.19.00.00): Previously facing a 20% duty rate, wheat will now be imported without duty.
Beans (H.S. Code 0713.31.90.00): Beans, which previously faced a 20% duty rate, will also see the duty waived.
The initiative aligns with the government’s broader efforts to support local food production and provide economic relief during a challenging period for many Nigerians. By making these essential items more affordable, the NCS aims to bolster food security and support the livelihoods of countless families.
Importers and businesses are encouraged to review the new guidelines thoroughly to ensure compliance and to fully take advantage of this policy's benefits. The NCS will oversee the implementation to ensure that the zero-duty rate is applied correctly and that the intended benefits are realised.
Overall, this policy represents a significant step towards enhancing food accessibility and reducing the cost of living in Nigeria, reflecting the administration’s commitment to improving the economic well-being of its citizens.
Nigeria Immigration suspends officers for begging tourists for money at Lagos airport
Meanwhile, TheRadar earlier reported that the Nigeria Immigration Service suspended an officer caught on camera begging for money from tourists at the Murtala Muhammed International Airport.
In a video circulating on social media, an Immigration officer was seen begging and pestering a tourist for money.
