Tinubu Approves Duty-Free Importation of Rice, Wheat, Beans, and More Amid Cost-of-Living Crisis

In response to escalating food prices, President Bola Tinubu has sanctioned a significant duty-free importation of essential food commodities, including rice, beans, and wheat. This initiative, titled the “150-Day Duty-Free Import Window for Food Commodities,” aims to alleviate the financial strain on Nigerians.

According to a statement from presidential spokesperson Bayo Onanuga, the duty-free window will be active for 150 days and will include maize, husked brown rice, wheat, and cowpeas. Agriculture Minister Abba Kyari confirmed that the federal government would also import 250,000 metric tons of wheat and maize, primarily to support small-scale processors and millers.

Since President Tinubu took office last year, Nigerians have faced a significant surge in food prices, exacerbated by the removal of petrol subsidies and the floating of the naira. These measures led to a dramatic rise in the cost of basic food items, with a 50kg bag of rice jumping from N20,000 to N70,000 within a year.

In response to widespread calls for action, President Tinubu’s administration will not only permit private sector imports but will also regulate the quality of these imports to ensure consumer safety. Additionally, the government will set a Recommended Retail Price (RRP) for the imported commodities.

Key aspects of the government’s plan include:

• 150-Day Duty-Free Import Window: Suspension of duties, tariffs, and taxes on specified food commodities, which will be subject to RRP.
• Federal Government Importation: 250,000 metric tons each of wheat and maize will be imported to support small-scale processors.
• Guaranteed Minimum Price (GMP): Engagement with stakeholders to set GMP and manage surplus food commodities for the National Strategic Food Reserve.
• Ramp-Up Production: Support for smallholder farmers during wet and dry seasons, increased agricultural mechanization, and collaboration with local authorities for irrigation and land cultivation.
• Livestock Transformation: Inauguration of the Renewed Hope National Livestock Transformation Implementation Committee to align with the National Livestock Transformation Plan.
• Nutrition Security: Promotion of fortified foods and expansion of the Home Garden Initiative led by the First Lady.

Over the next 14 days, the Presidential Food Systems Coordinating Unit (PFSCU) and the Economic Management Team (EMT) will collaborate with various agencies to finalize the implementation framework. The PFSCU will oversee a dashboard for the President to monitor progress and ensure accountability.

This extensive plan underscores President Tinubu’s commitment to achieving food security and ensuring no Nigerian goes hungry. The administration vows to diligently execute these policies for immediate relief while continuing to address long-term food system sustainability and resilience.