Customs spokesman Abdullahi Maiwada shared the details in a statement, noting that the presidential approval was communicated through the Minister of Finance and Coordinating Minister of the Economy, Olawale Edun.
“The introduction of this policy is a significant step towards easing the hardship faced by Nigerians due to soaring prices of essential food items,” Maiwada said. He emphasized, however, that this temporary measure does not diminish the long-term strategies designed to support local farmers and protect manufacturers.
The policy will address the national supply gap and has specific requirements for companies looking to benefit from the zero-duty importation. Eligible companies must be incorporated in Nigeria, operational for at least five years, and have consistently filed annual returns, financial statements, and paid taxes and statutory payroll obligations.
For companies importing husked brown rice, grain sorghum, or millet, they must operate a milling plant with a capacity of at least 100 tons per day and have sufficient farmland. Companies importing maize, wheat, or beans must be agricultural firms with ample farmland or feed mills/agro-processing companies with a network of out-growers.
The basic food items eligible for the zero percent duty rate are:
- Husked Brown Rice
- Grain Sorghum
- Millet
- Maize
- Wheat
- Beans
The Federal Ministry of Finance will provide the NCS with a list of approved importers and their quotas to manage the importation process. To ensure compliance, at least 75% of the imported items must be sold through recognized commodities exchanges, with all transactions and storage meticulously recorded. Companies are required to maintain comprehensive records for compliance verification.
Failure to meet these obligations will result in the loss of all waivers, with applicable VAT, levies, and import duties becoming payable. This penalty also applies if the imported items are exported in their original or processed form outside Nigeria.
The move reflects the government’s commitment to addressing immediate food security issues while balancing long-term support for local agricultural industries.
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