FG Unveils Plan to Reduce Food Prices Within 180 Days
The Federal Government has announced emergency measures to tackle the rising cost of food in Nigeria, with the aim of reducing prices within 180 days.
According to a statement by Senator Abubakar Kyari, Minister of Agriculture and Food Security, the government has introduced a 150-day duty-free import window for essential food commodities which includes the suspension of duties, tariffs, and taxes on the importation of certain food commodities through the country’s land and sea borders.
The targeted commodities include: maize, husked brown rice, wheat, and cowpeas, which will be exempted from duties, tariffs, and taxes during the specified period.
In addition to the duty-free import window, the government has also inaugurated the Renewed Hope National Livestock Transformation Implementation Committee to develop and implement policies prioritizing livestock development.
Furthermore, a new Ministry of Livestock Development has been created to oversee the development of the livestock sector, in a bid to enhance food security and stimulate economic growth.
The minister states that the measures are part of the government’s efforts to address the high cost of food in the country and provide relief to Nigerian citizens.
By Omolola Dare
GMN Correspondent, Oyo State
Responses