President Bola Tinubu approved an N2 trillion package and a 150-day duty-free import window for massive food imports into Nigeria, The Ministry of Finance is developing a framework to guide the expected huge food imports that will soon begin. The move is one strategy of the Nigerian government to ease the high cost of living across the country. The system will be prepared following week, the Nigeria customs service Comptroller General, Adewale Adeniyi, said on Tuesday, August 6, 2024.

Adeniyi said the rules incorporate zero taxes on certain nourishment imports, which is fundamental to secure nearby generation whereas giving long-term alleviation to the country’s starvation. the customs boss guaranteed Nigerians of the service’s successful execution of the service’s rules.

In July, President Tinubu approved an N2 trillion package to tackle food inflation and implement the government’s accelerated stabilization and advancement plan. Part of the policy is a 150-day duty-free window, which allows the importation of certain commodities via land and sea borders. According to reports, Nigeria is confronting a nourishment emergency as nourishment expansion come to 40.66% in May 2024, from 24.82% the past year. Specialists say frailty in certain food-producing regions is slowing down generation over the nation as farms have been surrendered and agriculturists looking for refuge in cities and somewhere else.