In July 2024, the Nigerian government announced a 150-day duty-free import window for key food staples like maize, husked brown rice, wheat, and cowpeas—to combat high food inflation. The idea was simple: increase food circulation, pull food inflation down, and deliver significant relief to Nigerians, who at the time were under the weight of surging food prices. But BusinessDay findings show that the policy, while easing consumer prices, triggered one of the steepest income shocks Nigeria’s agric sector has faced in recent years. The w
In July 2024, the Nigerian government announced a 150-day duty-free import window for key food staples like maize, husked brown rice, wheat, and cowpeas—to combat high food inflation. The idea was simple: increase food circulation, pull food inflation down, and deliver significant relief to Nigerians, who at the time were under the weight of surging food prices. But BusinessDay findings show that the policy, while easing consumer prices, triggered one of the steepest income shocks Nigeria’s agric sector has faced in recent years. The w