FG Introduces guidelines to ease food costs through zero-duty Imports

The federal government has unveiled new guidelines for companies aiming to participate in the zero-duty importation of staple food items.

This initiative aims to reduce food costs for Nigerians by setting specific eligibility criteria.

According to Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, companies wishing to participate must be incorporated in Nigeria and have been operational for at least five years. Additionally, these companies must have consistently filed annual returns, financial statements, and paid taxes and statutory payroll obligations over the same period.