Entrepreneurng.com
Thursday, April 30, 2026
  • Business News
  • Economic News
  • Editor’s Picks
  • Advertise With Us
No Result
View All Result
Entrepreneurng.com
No Result
View All Result
Home News

Suspension of Import Duties on Food Items to End by November – Abubakar Kyari

by Harry Choms
August 5, 2024
in News
0
abubakar Kyari
500
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The Minister of Agriculture and Food Security, Abubakar Kyari, announced that the federal government’s suspension of import duties on certain items will continue until the next harvest, which is expected around October or November this year.

In an interview with Channels TV on Sunday in Abuja, Kyari clarified that the suspension is temporary to combat food inflation and will not be in effect indefinitely.

He noted that the upcoming harvest will significantly relieve food prices. “We are looking at an importation level of 300,000 to 400,000 metric tonnes per month for various crops. This will last only until the harvest, expected in October or November,” Kyari said.

Importation During Lean Farming Season

Kyari explained that importing food items is a response to the current lean season in agriculture, which has led to lower production and yields of certain crops. He emphasized that this seasonal issue, occurring between June and August, necessitates the importation of staple foods such as rice, maize, and wheat to stabilize market prices.

“The lean season is a cyclical issue in agriculture. This is why we are importing these staple foods. Once the fiscal matters are resolved and the Ministry of Finance and Customs finalize the details, the importation will proceed,” Kyari added.

Context of Rising Food Prices

Nigeria is currently grappling with a severe cost of living crisis, with food inflation exceeding 40%, according to the National Bureau of Statistics. This surge in staple food prices has triggered widespread social unrest, leading to protests under #EndBadGovernance or Hunger Protest. The demonstrations, which are expected to last ten days, have resulted in loss of lives, destruction of public property, and looting in various parts of the country.

On Sunday, President Bola Tinubu addressed the nation, urging protesters, particularly the youth, to suspend their demonstrations and engage in dialogue with the government.

Tags: Abubakar KyariMinister of Agriculture and Food Security
Share200Tweet125
Harry Choms

Harry Choms

  • Trending
  • Comments
  • Latest
Prince Faisal bin Salman Al Saud

Saudi Arabia: Top 10 Richest Princes and Princesses of the Royal Family

January 4, 2025
2025 Budget: Federal Government Allocates ₦132bn to Support Farmers

2025 Budget: Federal Government Allocates ₦132bn to Support Farmers

January 4, 2025
Applications Open: Nehemiah Davis' Greatness Grant 2025 (Up to $2,500 Available)

Applications Open: Nehemiah Davis’ Greatness Grant 2025 (Up to $2,500 Available)

February 23, 2025
Sam Bankman-Fried

FTX founder Sam Bankman-Fried has been arrested in the Bahamas

19
THE CHANGING NATURE OF POWER IN THE KNOWLEDGE ECONOMY

THE CHANGING NATURE OF POWER IN THE KNOWLEDGE ECONOMY

3
RE-INVENTING MANAGEMENT IN THE KNOWLEDGE ECONOMY

RE-INVENTING MANAGEMENT IN THE KNOWLEDGE ECONOMY

2
Solar Power Sparks Economic Revival in Nigeria

Solar Power Sparks Economic Revival in Nigeria

April 17, 2026
Kitchen Waste Turns to Garden Gold

Kitchen Waste Turns to Garden Gold

April 17, 2026

Kasyno online jakie metody patnoci s dostpne.1550 (2)

April 15, 2026
Entrepreneurng.com

Copyright © 2025

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Business News
  • Economic News
  • Editor’s Picks
  • Advertise With Us

Copyright © 2025