Connect with us

News

Waiver: Food Importers ‘Must Sell 75% At Approved Markets’

Published

on

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

Gumi Defends Dialogue As Sole Solution To Nigeria’s Insecurity

Published

on

By

Islamic cleric Sheikh Ahmad Gumi recently defended his past interactions with armed groups, stating he “took the bull by the horns” in 2021 as a necessary step to address Nigeria’s insecurity.

In a post shared on Facebook on Thursday, Gumi said decades of neglect of disadvantaged populations had created deep socio-economic inequalities, leaving many youths vulnerable to manipulation by external forces seeking to destabilise the country.

According to him, the widening gap between the rich and the poor has turned many young people into “ready-made foot soldiers” in cycles of violence that enable the exploitation of Nigeria’s resources.

He also criticised the political class for being largely unresponsive, while noting that the intellectual community is preoccupied with survival struggles.

Reflecting on his past efforts, Gumi said he “took the bull by the horns” in 2021 by attempting to reintegrate violent elements into society rather than allowing them to be further radicalised.

He wrote: “Nigeria for decades has ignored the underprivileged section of its society. There is a significant socio-economic discrepancy, and the society is stratified. This makes our teaming youth ready-made foot soldiers for any foreign interest trying to divide us and rule. To plunder our resources while we are involved in a vicious circle of violence.

”Unfortunately, the political class is unattentive while the intelligentsia is held hostage in the struggle for existence.

“In 2021, I took the bull by the horns in an attempt to bring some of these uncouth elements back to our fold rather than letting them be exploited by the devil.

“I still believe this is the only way out of our predicament. However, it needs the political will and determination to achieve.

“May Allah bring peace back to our nation.”

Continue Reading

News

Court Clears Senator Ireti Kingibe To Remain Active In ADC

Published

on

By

The Federal High Court in Abuja rejected an ex-parte application seeking to bar Senator Ireti Kingibe from participating in the activities of the African Democratic Congress (ADC).

Justice Peter Lifu declined the request from Wuse Ward leaders, ruling that such an order could not be granted without first hearing from the senator.

Instead, the judge ordered the ward leaders said to be loyal to the Minister of the FCT, Nyesom Wike, to put the senator on notice to appear in court to join issues with them on their grievances.

Justice Lifu in a ruling on Thursday held that discretion in such a request for prohibition from party activities and in political matters must be exercised judicially and judiciously.

The judge said justice would be met in the case of the plaintiffs only when the side of the defendant is heard on its merit, along with that of the plaintiffs.

Consequently, the judge ordered that Senator Ireti Kingibe should be served with all court processes by the plaintiffs to enable her become aware of the suit and to prepare her defense.

The judge fixed April 20, 2026, for the plaintiffs and the serving senator to appear before him for hearing of all applications in the matter.

Those who sued the senator in the suit marked FHC/ABJ/ CV/539/2026 are Okezuo Godfrey Anayo and Isaiah Ojonugwa Samuel, on behalf of themselves and ward members as plaintiffs. The senator is the sole defendant.

In their ex-parte application, Kingibe representing the FCT in the Senate was said to have been suspended on March 10, 2026 by her Wuse Ward executives following allegations of anti-party activities and disregard of your cnstitution of the ADC.

In the ex- parte application filed on their behalf by a Senior Advocate of Nigeria, SAN, Kolawole Olowookere, the aggrieved ADC members in Wuse Ward applied for an order of interim injunction restraining Kingibe from parading herself as a member of party, pending the hearing and determination of their motion on notice for interlocutory injunction.

They also asked the judge to restrain the senator from performing any function, attending meetings or performing activities reserved for ADC members or representing the party in any activities.

Besides, the Ward Executive Committee had asked that she be restrained from further interfering with the administration of the ward, ward register and other activities.

The suit was predicated on five grounds among which are that Mrs Kingibe was placed on suspension due to anti-party activities, gross misconduct and confiscation of the ward statutory records.

They argued that the suspension followed due process as enshrined in the ADC constitution and ratified by the two thirds majority of the EXCO members.

They averred that despite the communication of the suspension to Kingibe, she has continued to hold parallel meetings, issue press statements as an ADC member, and using her security details to intimidate the executive committee.

“Her actions constitute flagrant disregard to the internal mechanism of the party,” the plaintiffs stated.

Meanwhile, a lawyer, Abubakar Marshall who claimed to be representing the senator, announced that he had filed a preliminary objection against the suit. He added that it was served on M. S. Garba, who stood for the plaintiffs at Thursday’s proceedings.

Continue Reading

News

COAS Shaibu Hits Jos To Restore Peace, Public Confidence

Published

on

By

The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, visited Jos, Plateau State, on Thursday, April 2, 2026, to lead a high-powered security assessment following recent security breaches.

The visit was aimed at strengthening public confidence and reinforcing ongoing efforts to stabilize affected communities.

Colonel Appolonia Anele, acting Director, Army Public Relations, said in a statement that the visit forms part of ongoing efforts to restore calm and entrench lasting peace across the state.

According to the statement, upon arrival, the COAS was received by the Executive Governor of Plateau State, Caleb Mutfwang, in a clear demonstration of strong civil-military cooperation and a shared commitment to addressing emerging security challenges.

The statement said the COAS received a comprehensive operational briefing from the General Officer Commanding 3 Division and Commander, Joint Task Force Operation ENDURING PEACE, Major General Folusho Oyinlola, who highlighted ongoing operations and proactive measures being implemented in synergy with other security agencies to contain threats, protect lives and property, and stabilise affected communities.

“As part of his engagements, Lieutenant General Shaibu also interacted with community leaders and residents, reassuring them of the unwavering commitment of the Nigerian Army to safeguarding all law-abiding citizens.

He urged residents to remain calm, vigilant and supportive of security agencies by complying with the curfew and cooperating fully with ongoing operations and investigations, while going about their lawful activities.

The chairman of Jos North Local Government Area, Hon. Dachung Bagos, commended the COAS for the timely visit, noting that the presence of the nation’s top military leadership would boost public confidence and reinforce trust in ongoing security efforts.

Continue Reading

Trending