FG grants N97bn waiver on staple foods import

FG grants N97bn waiver on staple foods import

The Nigerian government granted a waiver for the importation of essential food items, including maize, rice, and sorghum, amounting to N97 billion between 2024 and the first quarter of 2025, according to data from the Nigeria Customs Service (NCS). The waiver was part of efforts to address food security and reduce food inflation, which had been significantly impacting Nigerians. Despite these intentions, food prices remained high, and supply chains were disrupted.

The waiver aimed to reduce the cost of imports like rice, wheat, maize, and sugar, but its impact was limited. While the waivers on food imports helped lower prices by 12-18% in early 2025, there were still challenges in the market, including delays in the waivers reaching the market and an ongoing dependency on imports. The NCS highlighted that the cumulative effect of the waivers over time contributed to more affordable food, though the immediate effects were less significant.

Experts, including freight forwarders, noted that the waiver had minimal impact, especially since it applied to husked rice instead of finished products, which limited its effectiveness in reducing consumer prices. Additionally, stakeholders called for more clarity about the specifics of the waivers and their intended effects.

Punch, 29 Apr 2025