The Nigeria Customs Service (NCS) has announced President Bola Tinubu’s approval for the implementation of a Zero Percent Duty Rate and Value Added Tax (VAT) exemption on selected basic food items. 

Customs spokesman Abdullahi Maiwada said in a statement that the presidential approval was communicated through the Minister of Finance and the Coordinating Minister of the Economy, Olawale Edun.

Maiwada added that the policy is effective from 15th July 2024 and will remain in force until 31st December 2024.

He said the move would alleviate hardship faced by Nigerians due to high prices of essential food items.

He added that the implementation of the policy would focus on addressing the national supply gap.

He listed basic food items eligible for the zero percent duty rate as follows:

I. Husked Brown Rice

II. Grain Sorghum

III. Millet

IV. Maize

V. Wheat

VI. Beans