Korede Abdullah in Lagos
Nigeria is set to receive a massive influx of wheat, with 688,793 metric tonnes scheduled to arrive at various seaports across the country by the end of October 2024.
This significant importation is expected to reduce food prices, making essential commodities more affordable for citizens.
The wheat, loaded into seven vessels, began berthing at four seaports – Apapa and Tincan in Lagos, Calabar in Cross Rivers, and Rivers Port in Rivers State – between October 23 and 30, 2024.
However, efforts to confirm Federal Government involvement in the importation were unsuccessful, as relevant authorities have failed to make any comment on the issue.
In July 2024, the government announced a 150-day duty-free import window for food commodities, including maize, husked brown rice, wheat, and cowpeas, to combat food inflation.
The policy aimed to reduce import duties and value-added tax, encouraging food imports and lowering consumer prices. Unfortunately, bureaucratic delays and the failure to publish a list of qualified importers hindered the policy’s effectiveness.
Finance Minister Wale Edun revealed that the government had implemented a stop-gap measure to import wheat and corn, emphasizing that this would not affect local food production.
According to the National Bureau of Statistics, imported food inflation surged 21.14% from January 2024, indicating increased reliance on foreign food products amid domestic shortages.
The Central Bank of Nigeria released N1.73 trillion for food item importation in the first half of 2024. Vessel arrivals included 44,946 metric tonnes at Rivers Port on October 23, 18,800mt at Calabar Port on October 24, and 534,953MT at Apapa Port on October 30.
Industry experts criticized the government’s zero-tax policy implementation, citing lack of preparedness. Chief Ernest Elochukwu, former president of the Association of Nigeria Licensed Customs Agents, noted that the policy’s announcement lacked corresponding measures for safe implementation.
The massive wheat importation is expected to alleviate food shortages, but concerns surrounding policy implementation and bureaucratic inefficiencies remain.
