Nigeria’s minister of finance and coordinating minister of the economy, Wale Edun, has failed to give a meaningful update on why the government’s zero-duty on imported food items has not yet taken off. The policy was unveiled by the federal government to reduce the nation’s high inflation rate and guarantee food security.
Many of the importers say the conditions in the guidelines for importation of the specific items are too stringent, a reason they said the aim of the policy by President Bola Tinubu could be defeated from the onset.
Edun chaired a closed-door meeting of the Nigeria Customs Service board on Tuesday, according to a statement on the X account of the finance ministry. He failed to give a concrete statement on the outcome of the meeting concerning the temporary implementation of a zero-duty levy on selected food imports.
The measure is designed to alleviate the current food shortage and reduce soaring food prices, which have been a major contributor to inflation across the country.
“We discussed how to collaborate effectively to make food more affordable and accessible in the short term,” the minister simply said in the statement. He emphasised that while the initiative offers immediate relief, President Tinubu remains focused on long-term solutions, particularly boosting domestic food production.
Minister Edun highlighted ongoing efforts to increase the availability of essential farming inputs, such as fertiliser and seeds, particularly for small-scale farmers, which is expected to enhance local food production and ensure food security in the long run.
In addition to the zero-duty measure, the minister commended the Nigeria Customs Service board for its regular meetings to review the Service’s financial performance and operational activities. He commended the comptroller general of Customs, Wale Adeniyi and the leadership of the Service for upholding the core values of Transparency, Integrity, and Merit, noting these values are essential for effective governance and the efficient operation of the service.
The minister concluded by reaffirming the President Tinubu-led administration’s commitment to tackling both short-term and long-term food security challenges while continuing to work closely with the Nigeria Customs Service and other stakeholders to ensure smooth implementation of key policies.