Six ways to tackle high cost of food for Nigeria – Tinubu suspend tax on imported brown rice, corn, odas
President Bola Tinubu has announced the suspension of duties, tariffs, and taxes on key food imports via land and sea borders in Nigeria. The exempted items include Maize, Husked Brown Rice, Wheat, and Cowpeas for a 150-day period, aimed at alleviating high food prices. Imported foods will adhere to a “recommended retail price” set by manufacturers. The government plans to import 250,000 MT each of maize and wheat, engage youth in horticultural farming, and enhance nutrition security.
President Bola Tinubu don suspend di payment of duties, tariffs and taxes on some food items wey dem dey import to di kontri through land and sea borders.
Di food items include Maize, Husked Brown Rice, Wheat and Cowpeas.
Di presidency for one statement on X say di period wey di goment no go tax di food items na for 150-days.
Di kontri leader say dis move na to address di high cost of food prices for market.
E add say under dis arrangement, dem go subject imported food items to a “recommended retail price” – wey mean say dem go sell di food items for di price wey di manufacturer or producer suggest say make retailer sell am.
Dis measures dey come as kontri pipo dey lament di high cost of everything for market, most especially, food.
Nigerians don dey experience steady increase in di price of food items since di president announce di removal of petrol subsidy for 2023 during im inauguration as president.
According to di National Bureau of Statistics, di food inflation rate for May 2024 tanda for 40.66% on a year-on-year basis, wey mean say di food inflation increase by 15.84% as compared to di 28.42% dem record for May 2023.
Oda measures wey di goment dey take to address high cost of food prices
Oda measures wey goment wan take address high cost of food prices
According to di statement, oda measures include:
- In addition to di importation wey private sector go do, Nigeria goment say dem go import 250,000 MT of maize and 250,000MT of wheat. Di maize and di wheat go dey dia semi-processed state and dem go supply am give small-scale processors and milers across di kontri.
- Engagement of women and youth for di kontri to immediately begin farm horticultural crops like tomatoes and pepper for dia backyard to increase production volume, stabilise prices and address food shortage.
- Fast-track ongoing engagement wit di Nigerian military, make dem quickly cultivate di arable lands wey dey under di di Defence Farms Schemes for farming. Dem go also encourage oda para-military to do di same.
- Engage relevant stakeholders to set up Guaranteed Minimum Price and mop up surplus assorted food items.
- Collaborate wit sub-national to identify irrigable lands and increase land cultivation.
- Continuous ramp-up production for di 2024/2025 farming cycle.
- Goment go enhance Nutrition Security through di promotion of production of fortified food commodities and dem go also offer necessary support to scale up di Home Garden Initiative wey di Office of The First Lady of di Federal Republic of Nigeria bin carry out.
Di Federal Ministry f Agriculture and Food Security wey dey in charge of food security for di kontri say dem go implement these measures ova di next 180 days.
Source Link : https://www.bbc.com/pidgin/articles/cy79v7rj09vo
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