Removal of import duties will reduce food prices — Customs

The Comptroller-General of Customs, Bashir Adeniyi, has said the suspension of duties and taxes on imported food items would help reduce food prices.

He made this known on Tuesday during a briefing by security chiefs in Abuja on measures by the Federal Government to bring down food prices.

He said, “The protest was premised on a number of things, one of them being to end hunger. We discovered that a significant amount of food consumed in Nigeria is imported. Importation takes some time. So one of the things the president has done to cushion the effect of the cost of importation is to suspend customs duties and taxes on imported food items for a period of time.

“We believe that when this is implemented, it will help to bring down prices of food items in the markets. Nigerian Customs is committed to the implementation of this particular fiscal policy as enunciated by the government.

“What does this kind of intervention imply for the local markets? Because we are trying to address the interests of all stakeholders. Those that are going to enjoy these duty waivers and concessions are also being cultivated by Nigerian farmers.”

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He said there was a need to ensure the interests of all the stakeholders were considered before the implementation of the policy. The Customs boss urged Nigerians to be patient, adding that some of the imported items already in the country would be cleared without duties and taxes.

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

“So, the guidelines are being worked out at the Ministry of Finance, and I can assure you that within the next week, these guidelines will be ready and Nigerian Customs will begin implementation of these particular fiscal policies. So, I therefore urge Nigerians to be a little bit patient, believing that some of these items that have already arrived at our shores will be cleared without the imposition of Customs duty and taxes.” he concluded.

Meanwhile, Police Inspector General, Kayode Egbetokun, also spoke about the ongoing nationwide protest. He believed that tensions had eased in some states following the presidential broadcast; however, things can still be better if the Nigerian youths give room for dialogue.

He said, “We are all aware that in the last 5-6 days, our country has been troubled with the spate of violent protests in some states. After the address of Mr. President on Sunday, tension doused, and peaceful protesters heeded the call of Mr. President to a brief dialogue.”