Parrot Reporters
No Result
View All Result
  • Home
  • Top Stories
  • News
  • Politics
  • Business
  • Economy
  • World News
  • Diaspora
  • Other Features
    • Crime
    • Entertainment
    • Tourism
    • Interviews
    • Editorials
    • Opinion
Parrot Reporters

Food Importation Begins As Nigeria Customs Announce Zero Duty Rate On Essential Items

Bello Akin by Bello Akin
August 14, 2024
0
Food Importation Begins As Nigeria Customs Announce Zero Duty Rate On Essential Items
Share on FacebookShare on TwitterShare on Whatsapp

In a significant move to alleviate the financial burden on Nigerians, the Nigeria Customs Service (NCS) has introduced new guidelines following President Bola Tinubu’s endorsement of a zero duty rate policy on essential food items. This initiative is set to reduce the import duty and Value Added Tax (VAT) on certain key food products from July 15, 2024, through December 31, 2024.

The policy aims to make crucial food items more affordable and accessible, thereby supporting local food security and easing economic pressures on households. Under these new guidelines, the zero percent duty rate and VAT exemption will apply to a select list of fundamental food products.

The NCS has provided comprehensive instructions for businesses wishing to participate in this initiative, detailing eligibility requirements and compliance protocols for importers. The initiative is part of a broader effort to enhance the availability and affordability of essential goods across Nigeria.

The following food items are included in the zero percent duty rate policy -Husked Brown Rice, Grain Sorghum, Millet, Maize,  Wheat and Beans.

Importers are urged to familiarize themselves with these new guidelines to ensure compliance and to take full advantage of the benefits offered by this policy.

More News...

YORUBA CHIEF, OWOLABI SALIS MAKES HISTORY AS FIRST NIGERIAN TO REACH SPACE ON BLUE ORIGIN MISSION

More Defections Loom, But PDP Will Bounce Back — Senator Bukola Saraki

More Defections Loom, But PDP Will Bounce Back — Senator Bukola Saraki

PRESIDENT TINUBU CELEBRATES CGC ADEWALE ADENIYI’S HISTORIC ELECTION AS WCO COUNCIL CHAIR

PRESIDENT TINUBU CELEBRATES CGC ADEWALE ADENIYI’S HISTORIC ELECTION AS WCO COUNCIL CHAIR

Osun APC guber ticket: Aspirants emerge, battle lines drawn – abiodun KOMOLAFE

Osun APC guber ticket: Aspirants emerge, battle lines drawn – abiodun KOMOLAFE

LAGOS STATE GOVERNMENT CLEARS AIR ON ALLEGED DEMOLITION OF PROPERTY LINKED TO PETER OBI’S BROTHER

LAGOS STATE GOVERNMENT CLEARS AIR ON ALLEGED DEMOLITION OF PROPERTY LINKED TO PETER OBI’S BROTHER

Celebrating 36 Years of God’s Work Behind & Beyond Bars

Celebrating 36 Years of God’s Work Behind & Beyond Bars

Babajide Sanwo-Olu @ 60: Birthday Greetings from Childhood Friends – Wasiu, Bola & Yinka

Babajide Sanwo-Olu @ 60: Birthday Greetings from Childhood Friends – Wasiu, Bola & Yinka

Adamawa Governor Strips Atiku Abubakar of Traditional Title of Waziri

Adamawa Governor Strips Atiku Abubakar of Traditional Title of Waziri

About Us

Parrot Reporters is an independent and non-partisan news platform with special focus on Nigerians in Diaspora cum news within and outside the shore of Nigeria.


Our aim is to celebrate the exploits of Nigerians in diaspora particularly in Southern Africa and other parts of the world.

Categories

  • Business
  • Comic
  • Cover Stories
  • Crime
  • Economy
  • Editorials
  • Entertainment
  • Health
  • Interviews
  • Nigerians In Diaspora
  • Opinion
  • Other News
  • Politics
  • Sports
  • Tourism
  • Videos
  • World News

Follow Us

COPYRIGHT © Parrot Reporters
No Result
View All Result
  • Browse
    • Sports

© Parrot Reporters