President Tinubu Approves free importation wheat, Rice, and others.

 

President Bola Ahmed Tinubu has approved the duty-free importation of major

food items like Rice, beans, and wheat, to cushion the impact of the high food prices have been facing since he resumed office on May, last year.

Mr Bayo quoting minister of Agriculture, Abba kyari, stated that President Tinubu approved a "150 Day-Duty-Free importation of food commodities Including "Maize, Husked brown rice, Wheat and cowpeas".

Nigerians have faced high cost in food items since the president announced the removal of petrol subsidy as he resumed office last year and also floated the Naira, so that the value of the Nigerian currency can be determined by market forces in 2023.

The policies lead to in increase in the prices of major major food items, with 50kg of Rice bag rising from N20,000 a bag to N75,000 a bag within one year.

Similarly the rising cost of poultry products has made some major proteins, like eggs unaffordable for some people, as the prices of egg which increased from N100 which it was sold to N200 depending on the size.

The continuous increase in both products and prices of food commodities have made some shop owners close their shops, while some farmers (crops, &livestock)  have already cut down on their production quantity, due to high costs, insecurity and bad weather conditions ravaging rural communities.

Last year the President declared a state of emergency on food security with the hope of addressing the increase in food prices, yet food inflation persisted.