We Will Begin Implementation of Tariffs Waiver on Food Commodities Next Week - Nigeria Customs Service

We Will Begin Implementation of Tariffs Waiver on Importation of Food Commodities Next Week – Nigeria Customs Service

The Comptroller General of the Nigeria Nigeria Customs Service (NCS) has assured Nigerians that the executive order given by President Tinubu on waivers of importation duties on food commodities and pharmaceutical drugs will take effect within the next one week.

The. NCS Comptroller-General, Bashir Adeniyi who gave the assurance on Tuesday August 6, at a joint press briefing by service chiefs and heads of security agencies at the Defence Headquarters, Abuja, explained that the delay in the implementation of the President's executive order was due to logistics associated with the implementation guidelines from the Ministry of Finance.

Adeniyi said: “One of the things that the President has done is to reduce the cost of food to reduce the effects of inflation by suspending customs duties and taxes on imported food items for a period of time. We believe that when this is implemented it will help to reduce prices of food items in the market.

“The Nigeria Customs is committed to the implementation of this particular fiscal policy as enunciated by the government. But we need to be very careful in implementation of this policy, and this is why the guidelines for implementation are being meticulously worked out at the Ministry of Finance.

“We must address the interest of all the stakeholders, because most of these food items are going to enjoy duty waivers and concessions are also being cultivated locally. And so there is the interest to strike.

“There is the issue of striking a balance between the interest, the long term interest of nigerian farmers, nigerian stakeholders who are involved in the production of these items and the short term interest of addressing food inflation.

“So the guidelines are being worked out at the Ministry of Finance and I can assure you that within the next one week these guidelines will be ready and Nigeria customs would begin implementation of these particular fiscal policies.”

The Customs Service Head therefore urged Nigerians to be exercise a little more patience for the policy to take off, assuring them that the prices of food items would come down as soon as the policy is implemented.

OPEN TELEVISION NAIJA (OTN) News recalls that President Bola Tinubu had announced the strategic policy on food importation waivers earlier in July and also re-inforced it during his national broadcast as part of measures put in place by his administration to tame pervasive hunger in the land.

OTN News also recalls that critical stakeholders in the food importation sectors have raised alarms that the Nigeria Customs Service still collects Tariffs from their members, snubbing the President's executive order.