The Nigeria Customs Service (NCS) has begun the implementation of the zero percent import duty and exemption of value-added tax (VAT) on basic food items.
This follows the approval of the policy which was promised again by President Bola Tinubu as part of his government’s intervention during the End bad governance protest.
Following the approval, Customs said the duty waiver took effect from July 15 to December 31.
In the circular signed by Deputy Comptroller-General, Customs, C.K Niagwan, the food commodities include maize, husked brown rice, wheat, grain beans, and millet.
The Service had previously disclosed that the federal government’s suspension of import duties on food commodities will result in a revenue loss of N188.37 billion.
