The Nigeria Customs Service (NCS) has confirmed that the new fiscal actions on food imports apply only to paddy rice.... CLICK TO READ THE FULL NEWS HERE▶▶
At the same time, the Nigerian government maintains its restriction on rice imports via land borders.
The Comptroller-General of Customs, Adewale Adeniyi, disclosed this during his inspection of the Apapa port.
Import of rice via land borders not allowed
Adeniyi said nothing in the newly approved measures includes rice import, adding that the ban on rice import remains in force.
However, The Customs boss stated that some rice varieties are still being imported into Nigeria for those with access to Forex.
According to the Customs boss, small packages are not listed under the Customs Service’s Prohibition Act.
Reports say that Adeniyi disclosed nothing in the new fiscal action stating that rice would be brought in via land borders. He said that nothing has changed in rice importation except that brown rice or rice paddy will be allowed duty-free.
He said: “That is the only amendment to the fiscal policy. The extant policy on rice remains the same; importation through the land border is still restricted.”
Recall that the Central Bank of Nigeria (CBN) removed the restriction on FX access to import rice into the country.
Rice was among the 43 items banned by the CBN from accessing FX in the official market.
Following the announcement of the temporary suspension of import duties on selected food items into the country, the Customs issued conditions for those wishing to participate in the import of food items.
The approved food items include husked brown rice, grain sorghum, millet, maise, wheat, and beans, which aims to crash food prices in Nigeria.
The Customs spokesman said the policy became effective from July 15 until December 31, 2024.
CBN crashes Customs FX rates for cargo clearance
Legit.ng earlier reported that the Central Bank of Nigeria (CBN) has adjusted the exchange rates for cargo clearance in Nigeria’s ports.
The apex bank crashed the rate from N1,583 per dollar to N1,578.265 despite the official exchange rate crashing to N1,579.89.
Data from the FMDQ Exchange shows that the naira depreciated from N1,564.4 per dollar to N1,579.89 on Friday, August 16, 2024, showing that the naira depreciated by N15.49.
