The Federal Government of Nigeria, through the Nigeria Customs Service (NCS), has announced the suspension of import duties and taxes on certain items to mitigate the impact of rising inflation in the country. This move aims to make these items more affordable for Nigerians.
Disclosing this Tuesday, Comptroller General of the Nigeria Customs Service, Mr. Adewale Adeniyi emphasized the government’s commitment to addressing the inflationary trend and its effects on the citizens, particularly in reducing hunger.
He explained that global inflation is impacting countries worldwide, including Nigeria, adding that the agency has streamlined export processes to facilitate the efficient movement of Nigerian goods to international markets.
He said this initiative includes the introduction of advanced ruling systems, authorized economic operators, and a time-release study designed to enhance trade, stimulate the economy, and create new opportunities.
The Customs boss further explained that these reforms will provide farmers, artisans, and entrepreneurs with a faster path to global markets, thereby benefiting their families and communities.
“We are committed to implementing this measure seamlessly to address the problem of hunger in our nation,” he added.
He said in addition to economic measures, the NCS is intensifying its efforts to combat the proliferation of arms and dangerous weapons through Nigeria’s land, sea, and airports.
He warned that the destruction of the supply chain affects foreign investment, distorts trade, promotes instability, increases scarcity, and hinders revenue collections.
Mr. Adeniyi urged unity, resilience, cooperation, and constructive engagement from all Nigerians to overcome current challenges and build a brighter future.
Engineer, Entrepreneur, forex trader and Analyst