Finance Minister, Wale Edun, has announced that the government is implementing long-term strategies to increase domestic food production and reduce inflation.
Speaking after a meeting with the Nigeria Customs Service Board, Edun revealed that the government is focusing on sustainable measures to improve food security.
Taking to X, he stated the implementation of a zero percent duty on selected food imports, aimed at addressing food shortages and rising prices.
The government’s plan comes as Nigeria grapples with high inflation, currently standing at 33.40 percent, and a recent fuel price hike that has exacerbated the situation.
“We discussed how to collaborate effectively to make food more affordable and accessible in the short term,” Edun said.
“This zero-duty measure is a temporary solution, but the administration is focused on long-term strategies to boost domestic food production,” he tweeted.
