Edun claims temporary zero-duty on food imports is to ease inflation

The Federal Government is optimistic that the temporary zero-duty on food imports will ease inflation as the initiative is set to take off soon. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this yesterday in a statement issued by his office in Abuja at the Nigeria Customs Service board meeting, which took place on Tuesday.

Speaking after the meeting, the minister disclosed that the temporary measure is designed to alleviate the current food shortage and reduce soaring food prices, which have been a major contributor to inflation across the country.

“We discussed how to collaborate effectively to make food more affordable and accessible in the short term,” the minister explained. He emphasised that while this initiative offers immediate relief, President Tinubu remained focused on long-term solutions, particularly boosting domestic food production.

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

In addition to the zero-duty measure, the minister commended the Nigeria Customs Service (NCS) board for its regular meetings to review the Service’s financial performance and operational activities.

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

The minister also reaffirmed the President Tinubu-led administration’s commitment to tackling both short-term and long-term food security challenges, while continuing to work closely with the NCS and other stakeholders to ensure smooth implementation of key policies.