2 months ago
8
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has hailed President Bola Tinubu-led administration for the 150-day import duty-free window for rice, maize and wheat.
The Minister of Agriculture and Food Security on Monday announced that the federal government approved 150 days of import duty-free for rice, maize, wheat and other cereals to address economic hardship and high food inflation.
The National President of NACCIMA, Dele Oye, on Monday, described the federal government’s policy as decisive and a right step towards addressing the current food inflation in the country.
Oye said with the policy, price of food would come down in the market and increase the purchasing power of households.
He said it was a much-needed relief for millions of households. He added that it would help to put in check food prices manipulators.
Oye, in a statement said, “On behalf of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, NACCIMA, we commend the federal government’s decisive action to suspend duties, tariffs, and taxes on the importation of key food commodities.
“This initiative represents a significant step towards mitigating the severe food inflation currently impacting Nigerian households.
“The 150-day duty-free import window for essential items such as maize, husked brown rice, wheat, and cowpeas is a commendable move that will likely stabilize food prices and provide much-needed relief to millions of Nigerians.
“By addressing the multiple factors contributing to rising food prices, including infrastructural challenges and market profiteering, this policy demonstrates a comprehensive approach to ensuring food affordability.”
NACCIMA, however, advised the federal government to remain vigilant in the implementation of the policy.
The NACCIMA National President said importers and foreign companies may want to take advantage of the noble policy to convert Nigeria into a dumping ground.
He advised that local investors and farmers must be protected. “However, while we applaud these measures, it is imperative that the government immediately engages with stakeholders across the agricultural value chain.
“This engagement is crucial to ensure that Nigeria is not turned into a dumping ground for commodities where we already have reasonable self-sufficiency. Protecting local investments and sustaining the growth of our agricultural sector must remain a priority,” he added.
NACCIMA added they stand ready to support the federal government to ensure the policy’s implementation was balanced to protect local farmers and investors.
“NACCIMA stands ready to support the government in these efforts, ensuring that the strategic importation of food commodities complements rather than undermines our domestic agricultural production.
“Together, we can secure a balanced approach that safeguards both the immediate needs of our citizens and the long-term sustainability of our agricultural economy,” Oye said.
English (US) ·