The Nigeria Customs Service (NCS) has announced that it will begin suspending duties on imported food items once it receives a list of eligible beneficiaries from the Ministry of Finance.... CLICK TO READ THE FULL NEWS HERE▶▶
This follows a directive issued nearly two months ago by the federal government to halt duties, tariffs, and taxes on food imports via land and sea routes in an effort to curb inflation.
On August 14, the NCS confirmed that the policy had been put into action, allowing the importation of items such as maize, brown husked rice, beans, millet, and wheat.
The waiver, effective from July 15 and running through December 31, is part of the government’s strategy to tackle rising food prices nationwide.
Abdullahi Maiwada, the spokesperson for the Nigeria Customs Service (NCS), made remarks on Thursday during a joint press briefing held by security agencies under the strategic communications inter-agency policy committee (SCIPC) in Abuja.
During the briefing, Maiwada provided updates, stating that the directive has not yet been enforced as the Ministry of Finance has yet to submit the list of beneficiaries eligible for the tax exemptions.
He said: “So, the list of those who benefit from those exemptions will come from the ministry of finance and our role as an agency of government is to implement the directives of the government. So we are policy implementers, not formulators.
“So, by the time we get those lists, within the twinkle of an eye, we are going to implement those directives from the federal ministry of finance.”
Maiwada explained that the Ministry of Finance has released a set of guidelines outlining the conditions and requirements for participation in the zero import duty program.
Discussing revenue, Maiwada stated that the Nigeria Customs Service (NCS) generated N277.5 billion in import duties during August.
He also noted that the service collected N15.8 billion in excise duties, highlighting its dedication to maximizing revenue collection.
