It has been four months since the Federal Government announced a 150-day duty-free import window aimed at reducing the cost of essential food items, unfortunately, the plan has not been implemented.
Initially introduced on July 8, 2024, as a measure to alleviate escalating food prices, the policy was expected to include a zero percent duty and exemption from VAT on staples such as maize, husked brown rice, wheat, and cowpeas.
President Bola Ahmed Tinubu, during an August speech to Endbadgovernance protesters, reiterated his commitment to implementing the policy. Yet, as of November, the policy remains unexecuted, leaving many Nigerians questioning the delay.
In September, the Comptroller-General of Customs, Bashir Adewale Adeniyi, explained that the Nigeria Customs Service (NCS) had yet to roll out the duty-free scheme because it was waiting to receive a list of qualified importers from the relevant authorities. According to Adeniyi, the policy guidelines issued in August required the Ministry of Finance to provide an official list of vetted importers eligible to participate in the duty-free program.
Repeated attempts by Veongnews to reach spokespersons for both the Ministry of Finance and the NCS for further clarification were unsuccessful.
Meanwhile, Nigerians continue to feel the impact of high food costs. Bimpe Oduwole, a government worker in Lagos, voiced her frustrations: “Even though some prices have stabilissed over the past few weeks, they’re still unaffordable for many of us. Our wages simply can’t afford the cost of living.”
Similarly, Ms. Sade, a trader at Ajah Market, shared her struggles. “Sales are not what they used to be,” she admitted. “In the past, I could manage two full meals a day, but now I only eat once because I can’t afford more.”
The cost of food in Nigeria has been on a steep rise since the removal of the fuel subsidy in May 2023, a decision President Tinubu staunchly defends. Despite widespread calls for a reversal, he argues that the subsidy regime primarily benefited what he termed “scavengers” and “economic profiteers.”
As Nigerian households continue to grapple with inflation, several Nigerians are wondering if and when President Tinubu’s administration will fulfill its promise of relief.
