The Nigerian Customs Service has assured citizens that food prices will experience a significant reduction in the near future.
This commitment was made by the Comptroller-General of the Nigerian Customs Service, Bashir Adeniyi, during a press briefing at the Defence Headquarters in Abuja on Tuesday.
Adeniyi’s announcement follows recent widespread protests across Nigeria, which highlighted the soaring cost of food and overall inflation.
The #EndBadGovernance protests emerged from widespread discontent over economic conditions and government policies.
With thousands taking to the streets, demonstrators are demanding urgent government intervention to address the soaring cost of living and other socio-economic issues.
Several violent incidents, including deaths and looting, have marred the protests, intensifying the tense situation and prompting calls for an end to the protests.
In response to these concerns, Adeniyi revealed that a substantial quantity of imported food items has already arrived in the country.
To facilitate a reduction in prices, the Customs Service will clear these items without imposing duties and taxes.
This move is part of a broader fiscal policy initiative aimed at addressing the high cost of living and providing relief to consumers.
“The protest was premised on a number of issues, including the need to combat hunger,” Adeniyi explained.
“We discovered that a significant portion of food consumed in Nigeria is imported, and the cost of importation contributes to high food prices.
“To mitigate this, the government has decided to suspend customs duties and taxes on imported food items temporarily.”
Adeniyi assured the public that the Customs Service is fully committed to implementing this policy as outlined by the government.
He also stressed the importance of considering the interests of all stakeholders involved before the policy is fully enacted.
The decision to suspend duties and taxes is expected to lead to a marked decrease in food prices across Nigerian markets.
Adeniyi encouraged Nigerians to remain patient as the new policy takes effect, promising that the benefits of these measures will soon become apparent.
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