Federal Government’s Plans To Cut Food Prices Hampered By Rising Costs

Federal Government’s Plans To Cut Food Prices Hampered By Rising Costs …C0NTINUE READING HERE >>>

The Federal Government‘s ambitious plans to reduce food prices through a zero percent duty and exemption from value-added tax on selected basic food items are increasingly facing challenges, as the average price of imported food items has soared to an alarming 878.3 price point index in September 2024.

This troubling increase reflects broader economic pressures that have impeded efforts to alleviate food inflation in Nigeria.

On July 8, 2024, the government announced a 150-day duty-free import window for essential food commodities, including maize, husked brown rice, wheat, and…

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