Proposed temporary zero-duty on food imports to ease inflation - Edun

Wale Edun, minister of Finance and Coordinating Minister of the Economy, has assured Nigerians that the implementation of the proposed temporary zero-duty and levy on selected food imports will ease food inflation.

The minister disclosed this to journalists after the pivotal meeting of the Nigeria Customs Service Board held in Abuja on Tuesday and chaired by the minister.

He said the measure is designed to alleviate the current food shortage and reduce soaring food prices, which have been a major contributor to inflation in the country.

“We discussed how to collaborate effectively to make food more affordable and accessible in the short term,” the Minister explained.

He said that while this initiative offers immediate relief, President Tinubu remains focused on long-term solutions, particularly boosting domestic food production.

Edun highlighted ongoing efforts to increase the availability of essential farming inputs, such as fertilizer and seeds, particularly for small-scale farmers, which is expected to enhance local food production and ensure food security in the long run.

In addition to the zero-duty measure, the Minister commended the Nigeria Customs Service Board for its regular meetings to review the Service’s financial performance and operational activities.

He lauded the Comptroller General and the leadership of the Service for upholding the core values of transparency, integrity, and merit, adding that these values are essential for effective governance and the efficient operation of the Service.

The Minister concluded by reaffirming the President Tinubu-led administration’s commitment to tackling both short-term and long-term food security challenges while working closely with the Nigeria Customs Service and other stakeholders to ensure smooth implementation of key policies.