As 2024 draws to a close, several crucial economic promises made by the Nigerian federal government remain unfulfilled. One key promise was a tax waiver on imported essential food items to alleviate the rising cost of living. While the government announced a 150-day duty-free import window for food commodities, including maize, rice, wheat, and cowpeas, the policy has yet to be implemented effectively, leaving food prices high. Another unfulfilled promise involved a policy to reduce pharmaceutical costs by increasing domestic production, but medication prices remain unaffordable for many Nigerians.
As 2024 draws to a close, there are a handful of vital economic promises made by the federal government that are yet to be fulfilled.of the foreign exchange market in July last year — as both policies increased the cost of living in Nigeria .
Abubakar Kyari, minister of agriculture and food security, said the measure is a 150-day duty-free import window for food commodities, which involves the suspension of duties, tariffs, and taxes for the importation of maize, husked brown rice, wheat, and cowpeas.The federal government said the measure would reduce the high cost of food items in the Nigerian market.
The initiative was a collaboration between the National Identity Management Commission , the CBN, and the Nigeria Inter-bank Settlement System .
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