News
Waiver: Food Importers ‘Must Sell 75% At Approved Markets’
Food importers taking advantage of the Federal Government’s duty waiver must sell not less than 75 per cent of the items at the approved markets.
They are also precluded from exporting the items they import under the tariff’s waiver regime, which is a short-term measure to boost food availability and affordability.
High prices of food items have fueled inflation and made life unbearable for a large number of Nigerians.
Food inflation, according to the National Bureau of Statistics (NBS), is more than 40 per cent – the major enabler of the 34.19 per cent headline inflation.
Those who instigated protests against the government early in the month anchored it on what they called “hunger in the land”.
As part of measures by the Federal Government to alleviate the food crisis, the waiver of Customs duty and other tariffs on some categories of food items was introduced.
The policy, which took off on July 15, will end on December 31. Its objective is to reduce the cost of food.
The Nigeria Customs Service (NCS) has estimated that the six-month tariff waiver would indirectly transfer about N188.4 billion to Nigerians as food subsidy, being the value of the revenues to be waived.
According to the NCS, the basic food items eligible for the zero per cent duty rate include husked brown rice, with a previous rate of 30 per cent; grain sorghum, 5.0 per cent; millet, 5.0 per cent; maize, 5.0 per cent; wheat, 20 per cent and beans, 20 per cent.
The implementation of the zero per cent duty rate (0 per cent) and Value Added Tax (VAT) exemption on selected basic food items is expected to contribute to the decline in inflation over the next months.
A review of the guidelines released yesterday by the NCS indicates a mix of innovative finance that directly transfers values to the average consumer but simultaneously rewards commitments to national productivity and the development of the agricultural value chain.
Under the guidelines, at least 75 per cent of imported items must be sold through recognised commodities exchanges, with all transactions and storage recorded.
The importing companies must keep comprehensive records of all related activities, which the government can request for compliance verification.
Commodities exchanges are simply formal, specialised markets where agricultural products and other commodities are traded. Commodities exchanges enable the development of the sectoral value chain through standardised measures and procedures.
Leading commodities exchanges in Nigeria include Lagos Commodities and Futures Exchange (LCFE), Nigeria Commodities Exchange (NCX) and AFEX Commodities Exchange.
Also, to participate in the zero-duty importation of basic food items, a company must be incorporated in Nigeria and have been operational for at least five years.
The company must have filed annual returns and financial statements and paid taxes and statutory payroll obligations for the past five years.
Also, companies importing husked brown rice, grain sorghum, or millet need to own a milling plant with a capacity of at least 100 tons per day operated for at least four years, and have enough farmland for cultivation.
Companies importing maize, wheat, or beans must be agricultural companies with sufficient farmland or feed mills and agro-processing companies with an out-grower network for cultivation.
The implementation guidelines also provide evaluation mechanisms and sanctions for defaulters.
The Federal Ministry of Finance will periodically provide the NCS with a list of importers and their approved quotas to facilitate the importation of these basic food items within the policy framework.
If a company fails to meet its obligations under the import authorisation, it will lose all waivers and must pay the applicable VAT, levies, and import duties.
The penalty also applies if the company exports the imported items in their original or processed form outside Nigeria.
Comptroller–General of NCS, Adewale Adeniyi, said: “The initiative is part of the government’s broader efforts to address food security challenges and ensure that basic foodstuffs are accessible to all Nigerians.
“However, it is important to emphasise that while this temporary measure is intended to address current hardships, it does not undermine the long-term strategies put in place to safeguard local farmers and protect manufacturers.”
The Association of Master Bakers and Caterers of Nigeria (AMBCN), Lagos Chapter, expressed optimism that the tariff suspension would help in reducing the prices of bread and other items.
Its president, Chief Ayoola Mathew, commended the government’s initiative, noting that the continuous increase in the price of flour has not only dealt a big blow to the baking industry but has made life unbearable for Nigerians.
While lamenting that the prices of sugar, yeast, butter and other ingredients are also increasing, he said it has led to the closure of many bakeries and high unemployment rate.
“This constant increase in the price of flour by millers has made it impossible for bakeries to operate and function smoothly which has also led to the shutdown of many bakeries and their staff being laid off,” Mathew said.
News
Couple Kidnapped, One Shot In Ondo Estate Attack
Gunmen suspected to be kidnappers have abducted a couple from their residence in the Iluabo area of Akure North Local Government, Ondo State.
During the attack, which occurred in the early hours of Saturday, February 21, 2026, the assailants shot one person before seizing the victims.
The gunmen had stormed Olaribigba Estate in the community when they whisked Mr Jamiu Olawale and his wife into the bush.
Following the development, which has created tension in the agrarian community, residents protested and barricaded the road leading to the community over the incessant kidnappings and insecurity in the community.
According to sources, the couple had arrived at their residence in an ash-coloured Toyota Camry when they were attacked by the gunmen, who lay in ambush for them.
During the incident, a neighbour of the abducted couple, Patrick Ilumaro, who was seated in front of his residence, was shot by the gunmen while fleeing from the community.
A neighbour of the victims revealed that Ilumaro was swiftly rushed to an undisclosed medical facility where he is currently receiving medical treatment.
While confirming the incident, the Ondo State Police Command disclosed that tactical teams as well as conventional operatives have been deployed to the community.
In a statement issued by the Police Public Relations Officer, Abayomi Jimoh, the operatives are already combing the axis in an effort to rescue the victims and apprehend the perpetrators.
“Concerted efforts are ongoing to ensure the safe return of the abducted persons and bring those responsible to justice.
“Members of the public are urged to remain calm and go about their lawful activities. Meanwhile, the Command urges them to provide credible and actionable information that may assist in the investigation to the nearest police station.”
News
Brake Failure Leaves One Dead, Four Rescued At Abule-Egba
One person died and four others were rescued following a road accident at Ekoro Junction, Abule-Egba, on Friday evening, according to a statement from the Lagos State Traffic Management Authority.
The Director, Public Affairs and Enlightenment Department of LASTMA, Adebayo Taofiq, made this known in a statement issued on the agency’s X handle on Saturday.
According to the agency, the crash occurred at about 7:30 p.m. when an empty MACK tanker suffered a sudden brake failure, lost control and rammed into a Toyota Corolla before crashing into a roadside shop.
LASTMA said the tanker, with registration number EKY 900 XY, collided with a Toyota Corolla marked AAA 823 AY.
The impact caused extensive structural damage to the shop and triggered panic among traders and pedestrians in the area.
“The magnitude of the collision led to the immediate confirmation of one fatality at the scene, while four other trapped persons were extricated from the wreckage through coordinated emergency rescue efforts,” the agency stated.
The authority said it immediately activated its Rescue and Recovery Protocol, deploying specialised operatives to manage the situation.
“Personnel implemented strategic traffic diversion, vehicular evacuation procedures and crowd management in synergy with other emergency responders to forestall secondary incidents and guarantee unobstructed access for rescue operations,” LASTMA added.
It stated that emergency teams carried out rescue operations and provided medical attention to the injured victims.
According to the agency, a heavy-duty tow truck was later deployed to evacuate the damaged tanker and clear debris from the road to restore normal traffic flow.
The agency disclosed that the tanker driver fled the scene shortly after the crash and security operatives have since launched efforts to apprehend the driver and initiate legal proceedings.
“Security personnel from the Nigeria Police Force, Ekoro Division, responded expeditiously, maintaining public order, securing the accident perimeter and assisting in investigative processes aimed at establishing the precise sequence of events that culminated in the mechanical failure and subsequent collision.
“The incident precipitated considerable traffic congestion extending across adjoining routes toward Abule-Egba, necessitating robust traffic management interventions by LASTMA officials who remained on ground directing vehicular movement and implementing diversion strategies to alleviate the backlog,” it said.
According to the agency, its General Manager, Olalekan Bakare-Oki, expressed condolences to the family of the deceased and urged transport operators, particularly drivers of articulated vehicles, to prioritise routine vehicle maintenance.
“Preventable mechanical deficiencies remain a significant contributory factor in severe road traffic crashes,” Bakare-Oki said.
He also advised motorists to exercise vigilance, obey traffic regulations and maintain responsible driving practices, especially within densely populated commercial corridors.
Bakare-Oki assured the public that security agencies would conduct a thorough investigation to determine the immediate and remote causes of the incident and ensure that anyone found culpable would be prosecuted in accordance with extant laws.
The agency said other emergency responders at the scene included the Lagos State Emergency Management Agency, the Lagos State Fire and Rescue Service, the Lagos State Ambulance Service, the State Environmental Health Monitoring Unit and officers of the Nigeria Police Force, collaborated to coordinate rescue, medical response and environmental safety measures.
News
Court Sets Feb 25 For El-Rufai’s Arraignment In DSS Cybercrime Case
The Department of State Services (DSS) will arraign former Governnor of Kaduna state, Nasir El-Rufai, on February 25 over alleged cybercrime and breach of national security.
Justice Joyce Abdulmalik of the Federal High Court has fixed the date for the arraignment of the former Governor on a three-count criminal charge filed by the Department of State Services (DSS) after the Chief Judge, Justice John Tsoho assigned the case to her.
NAN earlier reported that the DSS, on Monday, filed a three-count criminal charge against El-Rufai following his alleged involvement in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu.
The charge, instituted by the Nigerian secret police, is marked FHC/ABJ/CR/99/2026.
The service accused El-Rufai of breaching the Cybercrimes Prohibition Act (2024) and the Nigerian Communications Act (2003.)
In court, El-Rufai was alleged to have, on Feb. 13, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, admitted during the interview that he and his cohorts unlawfully intercepted the phone communications of the NSA, Mr Ribadu.
The offence is said to be contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.
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