The Federal Government has announced measures to address high food prices in Nigeria, including subjecting imported food items to recommended retail prices over the next 150 days. This decision follows the recent suspension of import duties and taxes on essential food commodities such as rice, wheat, maize, and cowpeas.
Minister of Agriculture and Food Security, Abubakar Kyari, disclosed these initiatives on his social media platform, emphasizing that these steps are part of a broader strategy aimed at reducing food costs nationwide within the next 180 days. He assured Nigerians of the government’s commitment to maintaining standards for imported food items, including genetic composition and safety.
Kyari outlined additional measures, including importing 250,000 metric tons each of wheat and maize, which will be distributed to small-scale processors and millers across Nigeria. The government also plans to engage stakeholders to set standards and purchase surplus food to replenish the National Strategic Food Reserve. Other initiatives include supporting smallholder farmers during the ongoing wet season farming and bolstering dry season farming efforts nationwide.
Furthermore, the Presidential Food Systems Coordinating Unit (PFSCU) and the Economic Management Team (EMT) will collaborate with relevant agencies over the next 14 days to finalize implementation frameworks for these policies. The minister emphasized the importance of transparency and stakeholder participation in these efforts to ensure the availability and affordability of food for all Nigerians.