FACAN applauds FG on import duties suspension on essential food commodities

***Cautions on need to safeguard local agricultural investments

The Federation of Agricultural Commodity Associations of Nigeria (FACAN) has commended the Federal Government’s recent decision to suspend import duties, tariffs, and taxes on key food commodities to mitigate food inflation
The President of the Association Mr sheriff Balogun in a statement he personally signed and made available to the National Update in Abuja, indicated that the proactive measure, initiated by the Minister, Abubakar Kyari, will combat the escalating food inflation that has been straining Nigerian households.

“The 150-day duty-free import period for critical food items such as maize, husked brown rice, wheat, and cowpeas is a welcome relief.
“It is expected to significantly reduce food prices and offer immediate respite to millions of Nigerians grappling with the high cost of living.
While making comprehensive analysis of the immediate impact on Food Prices he said,
“FACAN acknowledges that the suspension of import duties will lead to a swift reduction in the prices of essential food items. “This measure is essential for providing immediate relief to Nigerian families, ensuring they have access to affordable food during these challenging times.
On response to Insecurity and High Production Costs he said, “The current food shortage in Nigeria has been exacerbated by insecurity and rising production costs, hence by allowing duty-free imports, the government is addressing the immediate supply gap and helping to stabilize the market. “This intervention will also mitigate the impact of high feed costs on livestock farmers, promoting stability across the agricultural sector.

“While we applaud the temporary suspension of import duties, FACAN stresses the importance of safeguarding local agricultural investments. It is vital to ensure that this measure does not undermine the progress made in achieving self-sufficiency in certain commodities.
“The government must continue to support local farmers and agricultural enterprises to strengthen Nigeria’s food security.
He urged the government to engage deeply with stakeholders across the agricultural value chain to develop long-term solutions.
“This collaboration is necessary to address structural issues, enhance productivity, and ensure that Nigeria’s agricultural sector remains competitive and resilient.
“Beyond the immediate relief, FACAN advocates for sustained efforts to bolster local food production. Investments in infrastructure, technology, and capacity-building for farmers are crucial to achieving a self-sufficient and sustainable agricultural sector.
“The strategic importation of food commodities should complement these efforts, not replace them.
Balogun reaffirms the dedication of FACAN to collaborating with the Federal Government to implement effective strategies that promote agricultural development.
He said the association is committed to supporting policies that balance immediate relief with the long-term goal of building a robust and self-reliant agricultural sector.