Economic Hardship: Tinubu approves massive, free importation of major food items to overcome high prices

President Tinubu approves

President Bola Tinubu has approved the duty-free importation of major food items like rice, beans and wheat, to cushion the impact of the high food prices Nigerians have been grappling with since he assumed office last year. According to a statement by the President’s spokesperson, Bayo Onanuga, the measures will be “implemented over the next 180 days”. Onanuga, quoting Agriculture Minister, Abba Kyari, said President Tinubu approved a “150-Day Duty-Free Import Window for Food Commodities”, including “maize, husked brown rice, wheat and cowpeas”. Nigerians have battled with high food prices…

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Import duty: FG grants 30 percent waiver on mass transit vehicles

President Muhammadu Buhari has approved a 30 percent import duty reduction on passenger transport vehicles into the country. In a circular issued by the headquarters of the Nigeria Customs Service (NCS) in Abuja, which conveyed the presidential directive, the import duty reprieve covers aviation engines and spare parts and takes immediate effect. According to the circular, signed by the NCS Deputy Comptroller-General, Trade and Tariff, T.M. Isa, signed on behalf of the NCS Comptroller-General, “the reduction followed the decision to prune applicable levies and duties on vehicles to mitigate rising…

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