Abuja, Nigeria
The Nigerian Customs Services (NCS) has assured Nigerians of a drastic crash in the prices of food items in the country.
NCS Comptroller-General, Bashir Adeniyi, disclosed this at defence headquarters, Abuja on Tuesday.
Adeniyi was among the heads of agencies who participated in a strategic closed-door meeting convened by the chief of defence staff, Gen. Christopher Musa.
The meeting came following the meeting of the service chiefs with President Tinubu on Monday.
DailyAgent reports that youth have been on the street since August 1 demanding a cut down on the cost of governance, a reversal of the removal of the petrol subsidy regime, and fiscal discipline to manage inflation in the country amongst others.
Speaking to journalists after the strategic meeting, Adeniyi said some of the imported food items are already in the country and are to be cleared without duties and taxes to have price reductions on them.
“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,” the NCS boss said.
“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.”
He further told newsmen that there was a need to ensure the interests of all the stakeholders were considered before the implementation of the policy while urging Nigerians to be patient.
“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.
“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,” the Customs CG said.
