Following President Bola Tinubu’s consent, the Nigeria Customs Service has been instructed to begin implementing the zero percent import tariff and value-added tax exemption on basic food goods.
In a letter dated August 8, 2024, the Ministry of Finance verified Tinubu’s clearance to the Nigeria Customs Service.
The NCS Comptroller-General, Bashir Adeniyi, then issued a circular ordering service personnel to start enforcing the rules.
As stated in the NCS circular “Approval for the implementation of zero per cent duty rate on basic food items,” the Ministry of Finance notified the agency via letter that Tinubu had given his approval for the implementation.
The Deputy Comptroller-General, C.K. Niagwan, signed a letter dated August 14, 2024, stating that the food commodities are millet, husked brown rice, wheat, grain beans and maize.
She stated that the policy is restricted to the items listed and is effective from July 15 to December 31, 2024.
The letter read, “I am directed to forward herewith a copy of the Federal Ministry of Finance letter, confirming His Excellency, Mr President’s approval for the implementation of zero per cent duty rate and Value Added Tax exemption on some basic food items.
“You are to note the following, ‘the policy is restricted to the items listed in the letter and it is effective July 15, 24 until December 31, 24. The importation of these items shall be limited to investors with milling capacity and a verifiable Backward Integration Programme for some of the items.”
The deputy director also demanded broad coverage to guarantee strict compliance, adding that the finance ministry would supply the list of importers and authorised quotas during the implementation phase.
“The Federal Ministry of Finance shall from time to time, during the implementation period, furnish the Nigeria Customs Service with the list of importers and their approved quotas to guide the importation of the basic food items. Ensure wide circulation for strict compliance, please,” the circular added.
Recall that the Federal Government announced on July 10 the suspension of duties, tariffs, and taxes on the importation of food staples through land and sea borders to reduce inflation.
On August 7, the NCS said the duty waiver on imported foods would be implemented within the coming week.
