The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dele Oye Esq., has praised the federal government’s recent decision to suspend duties, tariffs, and taxes on the importation of essential food commodities.
In an official statement, Oye emphasized the positive impact of the decision, particularly highlighting the 150-day duty-free import window for vital items such as maize, husked brown rice, wheat, and cowpeas.
He stated that the move would help stabilize food prices and offer much-needed relief to millions of Nigerians.
“On behalf of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), we commend the federal government’s decisive action to suspend duties, tariffs, and taxes on the importation of key food commodities,” Oye stated.
He further elaborated, “This initiative, announced by Honourable Minister Abubakar Kyari, represents a significant step towards mitigating the severe food inflation currently impacting Nigerian households.
“The 150-day duty-free import window for essential items such as maize, husked brown rice, wheat, and cowpeas is a commendable move that will likely stabilize food prices and provide much-needed relief to millions of Nigerians.”
Oye underscored the importance of addressing the various factors contributing to rising food prices, such as infrastructural challenges and market profiteering. He stressed the need for a comprehensive approach to ensure food affordability.
However, Oye also called for immediate engagement with stakeholders across the agricultural value chain to prevent Nigeria from becoming a dumping ground for commodities where the country already has reasonable self-sufficiency.
He highlighted the necessity of protecting local investments and sustaining the growth of Nigeria’s agricultural sector.
“NACCIMA stands ready to support the government in these efforts, ensuring that the strategic importation of food commodities complements rather than undermines our domestic agricultural production.
“Together, we can secure a balanced approach that safeguards both the immediate needs of our citizens and the long-term sustainability of our agricultural economy,” Oye concluded.
Recall that the Abuja Chamber of Commerce and Industry (ACCI) recently sounded a distress call regarding the alarming increase in commodity prices, particularly essential food items.
According to ACCI, the situation is exacerbating hardship for small-scale businesses and pushing many households deeper into poverty.
In a statement released by ACCI President Emeka Obegolu, the chamber expressed grave concern over the continuous rise in the prices of staple foods such as rice, beans, cassava flour, tomatoes, pepper, and onions.