An economic expert, Mr David Ambi, has urged the Federal Government to implement policies that protect local producers from the impact of the tariff removal on certain basic food items.
Ambi made the call in an interview with the newsmen on Tuesday in Abuja, noting that the government’s suspension of duties, tariffs, and taxes on imported food items like maize, husked brown rice, wheat, and cowpea may harm local agriculture if farmers cannot compete on price.
While the relief may be beneficial in the short term, Ambi emphasised the need to consider the long-term impacts on domestic agriculture and economic diversification.
He suggested that the government should implement complementary policies like subsidies, grants, or technical support to enhance the competitiveness of local agriculture.
Ambi stressed the importance of continuous monitoring and adjustments based on changing economic conditions or unforeseen consequences.
He acknowledged that the policy could provide immediate relief to consumers and address food security issues but emphasised the need to balance these short-term benefits with potential long-term impacts on domestic agriculture, government revenues, and economic stability.
Meanwhile, the Nigeria Customs Service (NCS) has unveiled implementation guidelines for the policy, stating that while the temporary measure addressed current hardships, it did not affect long-term strategies to protect local farmers and manufacturers.
