FG Suspends Taxes On Staple Foods To Curtail High Cost Of Living

By Jonathan Okpanachi

The federal government has suspended taxes on maize, wheat, rice, and other staples to make them affordable to common Nigerians.

This suspension will last for 180 days, and aimed at providing relief to Nigerians who have been struggling with high food prices, it was learnt.

The development is contained in a statement by the minister of agriculture and food security, Senator Abubakar Kyari.

He said the government would also implement a 150-day duty-free import window for food commodities, including maize, husked brown rice, wheat, and cowpeas. These commodities will be subjected to a Recommended Retail Price (RRP) to ensure affordability, he said.

He explained further that the government had also promised to ensure the importation of only quality produce and would engage relevant stakeholders to set a Guaranteed Minimum Price (GMP) and mop up surplus assorted food commodities to restock the National Strategic Food Reserve.

Additionally, he said, the government plans to scale up support for the Homs Green Initiative by the office of the First Lady of the Federal Republic of Nigeria and launch the Renewed Hope National Livestock Transformation Implementation Committee to develop and implement policies that prioritize livestock development.

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