The Nigeria Customs Service (NCS) has announced a temporary waiver on import duties for essential food items and medicines.
The Comptroller-General of Customs, Bashir Adeniyi, revealed the decision during a recent interview with journalists, confirming that the waiver will take effect next week.
The waiver, which will be in place for three months, applies to a range of critical imports, including rice, wheat, maize, and various pharmaceutical products. This measure is part of a broader effort by the Tinubu administration to address the escalating cost of living and provide relief to millions of Nigerians grappling with economic challenges.
“This initiative is in direct response to the government’s directive to reduce the cost of essential goods. By suspending import duties on these items, we aim to lower prices and make these necessities more accessible to the average citizen.” Customs CGC explained
The announcement comes amid growing public concern over the affordability of basic commodities. With inflation steadily climbing, the government’s decision to waive import duties is expected to have a tangible impact on the prices of food and medicines, providing much-needed relief to households across the country.
As the policy takes effect, the Nigeria Customs Service will be closely monitoring its implementation to ensure that the intended benefits reach consumers and are not undermined by market manipulation or hoarding. The government has urged importers to pass on the cost savings to consumers, reinforcing its commitment to mitigating the effects of the economic downturn on vulnerable populations.
The waiver is a key component of President Tinubu administration’s broader strategy to stabilize the economy and support Nigerians through this period of financial difficulty.
By Ibrahim Aliyu
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