On Thursday, the Nigeria Customs Service announced that the suspension of customs duties and taxes on imported food items will begin as soon as it receives the beneficiary list from the Ministry of Finance......Read The Full Article>>.....Read The Full Article>>
This follows a Federal Government directive issued nearly two months ago, which granted a 150-day duty-free period for the importation of maize, husked brown rice, and wheat to address rising food inflation.
Comptroller-General of Customs, Bashir Adeniyi, had previously stated that implementation would start the week after August 7, pending finalization of the guidelines.
The spokesperson for the NCS, explained at a joint press briefing that the delay was due to waiting for the Ministry of Finance to provide the beneficiary list. Once received, the directive will be promptly executed.
Maiwada said, “The issue of food security. You made mention of the policy that was announced by Mr. President and we have issued a statement on the guidelines on how to benefit from that policy. Well, I would like to discuss in such a way that the common man would understand how these things work.
“People think that me and you can just go and import rice. No, that is not what the policy is all about. We have policy issues that have a long-term effect. We have the medium-term and we have the short-term effects.
“So, while formulating policies that are related that have a short-term effect, we have to do it in such a way that it will not have adverse effects on long-term policy issues. Our responsibility as an agency of government, Nigeria Customs Service, is to implement government policies.
“That’s why the statement we issued is based on the guideline issued by the Federal Ministry of Finance. They have issued a guideline on how to achieve, what are the conditions, and what are the requirements for you to benefit from that zero import duty.”
He added, “We have three lines, six lines of tariff line with the HS code, harmonized system code, with initially a duty of 35% duty and leave you some of the items and they have all been waived.
“However, the policy stated clearly that you must be a miller, you must be a taxpayer, you must have been into operations for a certain number of years and there will be a quota that will be issued by the Federal Ministry of Finance.
“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.
