President Tinubu Rolls Out Measures To Tame Food Inflation, Approves Duty-Free Import For Rice, Wheat, Others

In a bid to tame the rising food inflation in the country, President Bola Tinubu has approved the duty-free importation of major food items like Maize, Husked Brown Rice, Wheat and Cowpeas through land and sea borders.

This was disclosed in a press briefing by the minister of Agriculture and food security, Senator Abubakar Kyari, CON who said that the measure will be “implemented over the next 150 days.”

According to Senator Kyari, this measures will help to bring down the increasing cost of food while the wet season harvest will be do, stressing that efforts are on to boost local production.

The minister said not only will the government now allow duty-free import for the private sector for 150 days, the federal government will “import 250,000MT of Wheat and 250,000MT of Maize. The imported food commodities in their semi-processed state will target supplies to the small-scale processors and millers across the country.”

Below is the full statement;

PRESS BRIEFING BY SENATOR ABUBAKAR KYARI, CON, HONOURABLE MINISTER OF AGRICULTURE AND FOOD SECURITY, ON THE IMPLEMENTATION OF THE PRESIDENTIAL ACCELERATED STABILIZATION AND ADVANCEMENT PLAN, HELD AT THE NATIONAL PRESS CENTRE, RADIO HOUSE, ABUJA ON THE 8TH JULY, 2024.

It is with deep sense of responsibility that I stand before you today to present to you, the outlined implementation of the Presidential Accelerated Stabilization and Advancement Plan, an initiative of President Bola Ahmed Tinubu, GCFR, to bring about food security and economic stability to Nigeria.

Over the past several months, we have all been witnesses to the escalating cost of food items in all parts of the country. There is virtually no food item that has not had its price raised to a level higher than what a good many Nigerians can afford. The affordability crisis in our food security system has been indexed by the data from the National Bureau of Statistics which by the last count, had put food inflation at 40.66%. We have heard the cries of Nigeria over the prices of food items and condiments, with some now describing tomato as gold and proposing a variety of recipes to prepare soups and dishes with some of the overly priced food items. What in the past were regarded as common items such as yam, plantain, potato now command excessively high figures and Nigerians are right to wonder how and why things are the way they are.

As a government under the leadership of President Bola Ahmed Tinubu GCFR, members of the Federal Executive Council and indeed all other operatives in the MDAs are fully aware of the hardship occasioned by the high cost of food items in our country.

There is no doubt that food inflation is a direct consequence of a number of factors. Agricultural production activities have been hampered in some parts of the country by a number of factors resulting in the inability of smallholder farmers to contribute optimally to the country’s food basket. This has opened a new dimension to the food challenge from affordability to availability of sufficient food commodities.

As you may recall, earlier in the year, there were a number of interventions by the Federal Government to make food available and to dampen their prices. Those interventions include: the release of 42,000MT of assorted food commodities from the National Strategic Food Reserve, 58,500MT purchase of milled rice from Rice Processors Association of Nigeria and additional 30,000MT of rice. Regrettably, prices have continued to escalate, and in some cases these days, food items are becoming unavailable.

The Government cannot allow this situation to persist. While there are ongoing agricultural initiatives, programmes and projects under the Federal Ministry of Agriculture and Food Security, and state governments also have theirs, we must respond to the creeping availability crisis. As the Government continues to encourage agricultural production on a sustainable and profitable basis for farmers, the time lag between cultivation and harvest makes it inevitable for the Government to kick-in stop-gap measures that will bring tremendous relief to Nigerians. For instance, harvest for 2024 wet season farming will not be due until October-November. On the one hand, while the measures aim to alleviate immediate food shortages, we will strengthen domestic production capabilities to enhance long term food security.

I do not wish to dwell much on other well-known causative factors in our country’s food inflation figures: infrastructural challenges, multiple taxes and levies and then just sheer profiteering by marketers and traders. What is important is to let you know that the Federal Government under President Bola Ahmed Tinubu, GCFR, feels the pain of Nigerians and is earnestly desirous of relieving these pains, stabilizing the economy and getting Nigerians back to happy days. As you may be aware, in March 2024, the President constituted the Presidential Economic Coordination Council (PECC) under which, the Economic Management Team (EMT) recently presented to Mr. President an Accelerated Stabilization and Advancement Plan. A Two Trillion Naira package was approved to be spent on actualizing the Accelerated Stabilization and Advancement Plan of which Agriculture is a key focused sector.

The EMT has been meeting day and night working out the best modalities to achieve the best results for Nigerians. To ameliorate food inflation in the country caused by affordability and exacerbated by availability, the government has taken a raft of measures to be implemented over the next 180 days:

1. A 150-Day Duty Free Import Window for Food Commodities

a. suspension of duties, tariffs and taxes for the importation of certain food commodities (through land and sea borders)

b. these commodities include Maize, Husked Brown Rice, Wheat and Cowpeas

c. under this arrangement, imported food commodities will be subjected to a Recommended Retail Price (RRP).

I am aware that some good citizens might be concerned of the quality of the would be imported food commodities as it relates to the trending worries around genetic composition of food). I am glad to reiterate that the Government’s position exemplifies standards that would not compromise the safety of the various food items for consumption.

2. In addition to the importation by private sector, Federal Government will import 250,000MT of Wheat and 250,000MT of Maize. The imported food commodities in their semi processed state will target supplies to the small-scale processors and millers across the country.
3. Engage relevant stakeholders to set a Guaranteed Minimum Price (GMP) and mop up surplus assorted food commodities to restock the National Strategic Food Reserve.
4. Continuous ramp-up production for the 2024/2025 farming cycle.

a. sustained support to smallholder farmers in the ongoing wet season farming through existing government initiatives.

b. strengthen and accelerate Dry Season Farming across the country.

c. embark on aggressive agricultural mechanization and development to reduce drudgery, drive down the cost of production and boost productivity. d. collaborate with Sub-National to identify irrigable lands and increase land under cultivation.

e. work closely with the Federal Ministry of Water Resources and Sanitation, to rehabilitate and maintain irrigation facilities under river basin authorities across the federation.

f. development of a strategic engagement for youth and women across the federation for immediate greenhouse cultivation of horticultural crops such as tomatoes and pepper to increase production volume, stabilize prices, and address food shortages.

g. fast-tracking ongoing engagements with the Nigerian Military to rapidly cultivate arable lands under the Defence Farms Scheme, while encouraging other Para-Military establishments to put secured available arable lands to cultivation.

5. The Renewed Hope National Livestock Transformation Implementation Committee will be inaugurated on Tuesday, 9th July 2024 with a view to develop and implement policies that prioritize livestock development and ensure alignment with the National Livestock Transformation Plan.
6. Enhancement of Nutrition Security through:

a. the promotion of production of fortified food commodities and

b. offer necessary support to scale up the Home Garden Initiative by the Office of The First Lady of the Federal Republic of Nigeria.

Over the next 14 days, in close collaboration with the Presidential Food Systems Coordinating Unit (PFSCU) and the Economic Management Team (EMT), we will convene with the respective Agencies to finalize the implementation frameworks. We will ensure that information is publicly available to

facilitate the participation of all relevant stakeholders across the country. The PFSCU will manage a dashboard for Mr. President, providing him with direct visibility into these interventions and ensuring accountability.

In conclusion, the success of the measures aforementioned, is contingent on the cooperation and collaboration of all relevant MDAs and stakeholders.

As our nation confronts a critical food security challenge, let me reiterate Mr. President’s unwavering commitment to attaining food security and ensuring that no Nigerian goes to bed hungry. To this end, I can assure all Nigerians, that my team and I, will swiftly and diligently actualize these crucial policies to ensure food security for everyone in the country in the immediate term as we also continue our strategies for long term interventions to address the underlying causes and ensure sustainable and resilient food systems in the country. God Bless you all and God Bless the Federal Republic of Nigeria.