FG: We’ll Regulate Prices of Imported Foodstuffs

The Federal Government of Nigeria has announced a significant policy shift aimed at reducing food prices by regulating the retail prices of imported food items over the next 150 days. This measure comes in response to the escalating food costs that have burdened Nigerians.

Minister of Agriculture and Food Security, Abubakar Kyari, revealed on his X (formerly Twitter) handle that the government has already suspended import duties and taxes on essential food items such as rice and wheat. The next step involves imposing a Recommended Retail Price (RRP) on imported foodstuffs to ensure affordability.

Kyari assured the public that food prices are expected to decline within the next 180 days, urging Nigerians to remain patient. He outlined a comprehensive plan that includes a 150-day duty-free import window for food commodities, encompassing the suspension of duties, tariffs, and taxes for maize, husked brown rice, wheat, and cowpeas imported through land and sea borders.

Addressing concerns about the quality and safety of imported food items, Kyari emphasized that all standards would be upheld. The government plans to import 250,000 metric tons of wheat and maize, distributing these semi-processed commodities to small-scale processors and millers nationwide.

Kyari also mentioned upcoming engagements with stakeholders to set Good Manufacturing Practices (GMP) and purchase surplus food commodities to replenish the National Strategic Food Reserve. Additional support will be provided to smallholder farmers, focusing on wet season farming and accelerating dry season farming across the country.

The minister highlighted that within the next 14 days, the Presidential Food Systems Coordinating Unit (PFSCU) and the Economic Management Team (EMT) will meet with relevant agencies to finalize the implementation frameworks for these policies. Public access to information will be ensured to facilitate stakeholder participation.

Amidst these developments, Senator Ali Ndume of Borno South voiced concerns about the accessibility of President Bola Tinubu, which he claims hampers lawmakers’ ability to provide critical advice on the food crisis. Speaking on the BBC Hausa Service, Ndume warned that widespread hunger and malnutrition, particularly among children in the North-West, could become severe if immediate action is not taken.

Ndume referenced a UN report predicting that 82 million Nigerians might face hunger within the next five years. He urged for the revival of food banks, which were previously maintained for emergency needs, expressing worry over their current absence.

In summary, the Federal Government’s initiative to regulate imported food prices aims to alleviate the food crisis, while calls for increased governmental accessibility and action to address hunger highlight the urgency of the situation.