President tinubu’s Zero Duty Policy on Food Imports Receives Praise by TDF

Abuja – The Democratic Front (TDF) has commended President Bola Ahmed Tinubu’s approval of zero percent Import Duty and VAT exemptions on essential food items, aimed at reducing hunger and hardship in Nigeria. The policy, which took effect on August 15, 2024, is seen as a significant move to make food more affordable for citizens.

In a statement signed by the chairman,
Danjuma Muhammad and Secretary, Wale Adedayo, and made available to Newsmen on Friday morning.

According to the TDF, the policy demonstrates President Tinubu’s commitment to mitigating the high cost of food prices in Nigerian markets. The foundation praised the President’s economic policies, which balance reforms with a “human face and the milk of kindness.”

The TDF highlighted several achievements of the administration, including a 19-month drop in inflation, a significant increase in the national minimum wage, and various interventions to support students and consumers.

The foundation urged Nigerians to welcome the policy and avoid hoarding and profiteering, which can drive up food prices. It also called on the Nigeria Customs Service and other stakeholders to implement the policy as directed by the President.

The zero-duty policy is expected to incur a significant loss of N188 billion in suspended customs duty and VAT, but the TDF sees this as a necessary sacrifice for the benefit of the Nigerian people.