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JUST IN: Nigerian govt to suspend tariff, import duty on staple foods, pharmaceuticals, others

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The Nigerian government has unveiled a plan to bring down inflation in the country through tariff and import duty suspension for food, raw materials for production, pharmaceuticals, inputs for agriculture production and other fiscal measures.

The Minister of Finance, Wale Edun disclosed this in a recent presentation of the proposed Accelerated Stabilisation and Advancement Plan, ASAP.

Edun stated that the plan, recently presented to President Bola Ahmed Tinubu, was designed to end Nigeria’s economic hardship.

The Nigerian government has unveiled a plan to bring down inflation in the country through tariff and import duty suspension for food, raw materials for production, pharmaceuticals, inputs for agriculture production and other fiscal measures.

The Minister of Finance, Wale Edun disclosed this in a recent presentation of the proposed Accelerated Stabilisation and Advancement Plan, ASAP.

Edun stated that the plan, recently presented to President Bola Ahmed Tinubu, was designed to end Nigeria’s economic hardship.

This comes as Nigeria’s headline and food inflation increased to 33.69 percent and 40.53 percent, respectively.

The inflation portends unbearable hardship for Nigerians as purchasing power continues to shrink upon rising prices while remaining unchanged.

As a solution, Edun explained that the fiscal measures, when implemented, will take Nigeria out of the woods.

He said the order upon implementation will bring about the suspension of import duty and tariff for staple food items, raw materials and other direct inputs used for manufacturing, inputs for agriculture production, including fertilizers, seedlings, chemicals, pharmaceutical products, poultry feeds, flour and grains.

Similarly, it will authorise millers to import paddy rice at zero duty and Value Added Tax for 6 months.

“The import duty and other tariffs on the following items are hereby suspended for six months: staple food items, raw materials and other direct inputs used for manufacturing, inputs for agriculture production including fertilizers, seedlings, chemicals, pharmaceutical products, poultry feeds, flour and grains.

“Value Added Tax, where applicable, is hereby suspended on the following items for the rest of the year 2024: Basic food items and semi-processed, staple food items such as noodles and raw material inputs for the manufacturing
of food items, electricity and public transportation, agricultural inputs and produce, and pharmaceutical products”, the document partly reads.

Relaxation of import duty will calm raging inflation in Nigeria – CPPE

Reacting to the proposal, Muda Yusuf, the Director of the Centre for the Promotion of
Private Enterprise said the relaxation of import duty as contained in the ASAP would calm raging inflation in Nigeria.

Muda noted that the plan will address many of the burning economic issues bothering real sector investors.

He urged Tinubu’s government to expedite action in implementing the plan for the progress of Nigeria’s economy.

“The proposed Accelerated Stabilisation and Advancement Plan is a laudable proposition coming from the Finance Minister. It addresses many of the burning economic issues bothering real sector investors.

“The plan contains robust and comprehensive fiscal policy measures that stakeholders in the real economy had clamored for over the past year. It addresses the concerns of investors on high interest rates, high cost of cargo clearance at the ports, and high import duty regimes.

“The relaxation of import duties on critical raw materials for manufacturers would calm the raging inflationary pressures in the economy, especially food inflation.

“The fiscal measures reflect the responsiveness of the administration to the concerns of investors in the real economy. We urge for expeditious implementation of the plan, once approved by the president,” he said.

Minimum wage negotiation

The government economic proposal, known as ASAP, comes amid the new minimum wage discussion that has taken center stage in Nigeria in recent times.

On Monday, the Organised Labour shut down the Nigerian economy because the government failed to implement a new Minimum wage.

However, the strike was suspended on Tuesday after the workers secured a commitment from the government to pay a minimum wage higher than N60,000.

Meanwhile, the Nigeria Labour Congress and the Trade Union Congress had earlier proposed N494,000 as a new minimum wage.

It was learnt that the Government and the Organised labour has resumed negotiation on the new minimum wage.

Meanwhile, Senator Orji Uzor Kalu at Tuesday’s plenary proposed between N75,000 and 90,000 as the new minimum wage.

Earlier, Paul Alaje, Chief Economist and Partner at SPM said the minimum wage should be at least N100,000.

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WAEC revokes licenses of 574 schools over exam malpractices

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The West African Examination Council (WAEC) in Nigeria has sanctioned and revoked about 574 schools found to have engaged in examination malpractices.

Head of WAEC national office, Dr Amos Dangut, disclosed this while speaking to journalists at the national headquarters in Lagos yesterday.

He stated that the examination body has submitted the list of schools involved to the Federal Government through the Ministry of Education for sanctions.

The schools involved in malpractices would no longer be recognised as WAEC examination centres.

He said, “This year, we have shared with them a total of 574 schools whose recognition has been withdrawn. This measure will also be adopted by all examining bodies.

“These schools are no longer recognised as examination centres by WAEC, and we will not conduct exams there.”

Ahead of the 2025 West African Senior School Certificate Examination (WASSCE), scheduled from Thursday, April 24 to Friday, June 20, 2025, Dangut revealed that 1,973,253 candidates from 23,554 schools have registered for the examination.

This is an increase of 158,627 candidates compared to last year.

He said there are 979,228 males, while 994,025 are females.

Dangut highlighted WAEC’s commitment to leveraging technology, introducing the first-ever Computer-Based WASSCE (CB-WASSCE) for school candidates.

He disclosed that no two candidates will receive identical questions to discourage cheating.

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Easter: IG orders tight security, deployment of personnel to churches

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As Christians in Nigeria join others around the world to mark the 2025 Easter celebrations, the Inspector-General of Police, Kayode Egbetokun, has ordered tight security measures across the country to ensure a peaceful and hitch-free holiday.

In a statement on Friday by the Force Public Relations Officer, ACP Olumuyiwa Adejobi, the IGP extended warm Easter greetings to the Christian faithful, urging them to reflect on the values of hope, renewal, and sacrifice which the season represents.

Egbetokun directed all Commissioners of Police and supervising Assistant Inspectors-General of Police to intensify visibility policing, intelligence gathering, and extended surveillance in their jurisdictions.

He also directed the strategic deployment of personnel to churches, recreational centres, highways, and other public places to forestall any security breach during the festivities.

“‎The IGP hereby directs Commissioners of Police across all State Commands and Formations, and their supervising Assistant Inspectors-General of Police, to enhance visibility policing, extended vigilance, and intelligence gathering to ensure a safe and secure festive celebration for all citizens.

“He also emphasises the critical importance of enhanced patrol and strategic deployment of personnel to places of worship, recreation centres, major highways, and other public spaces to deter criminal activities and provide swift responses to any security challenges that may arise,” the statement said.

He also called on Nigerians to cooperate with law enforcement agencies by providing timely and credible information to help prevent any potential threats to public safety.

While urging citizens to remain vigilant, Egbetokun advised moderation in celebrations and warned against reckless driving on the highways throughout the Easter period and beyond.

He said, “‎The IGP calls on members of the public to cooperate with the Police and other security agencies by providing timely and credible information that could assist in preventing the breakdown of law and order during this period.

Citizens are therefore urged to remain security conscious, act with moderation, and avoid reckless driving on highways during the festive period and beyond.”

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Tinubu working remotely from overseas, returns after Easter – Presidency

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The Presidency has said President Bola Tinubu continues to direct the affairs of state from Europe, despite being outside the country for nearly two weeks.

It also said the President will return on Monday, April 21, after the Easter holidays.

In a statement signed on Thursday, Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, explained that the President, who travelled from Paris to London at the weekend, “remains fully engaged in Nigeria’s governance” and is in “constant communication with key government officials.

”Onanuga added that the President had given “directives to security chiefs to address emerging threats in some parts of the country.”

The statement was titled ‘Statement On President Tinubu’s Return To Nigeria.

’Tinubu’s absence, the Presidency noted, “is temporary and in line with the communicated timeframe of approximately two weeks.

”He is expected back in Abuja after the Easter holidays, which end on Monday, 21 April.

“The President’s commitment to his duties remains unwavering, and his administration continues to function effectively under his leadership,” Onanuga said, urging the public to remain calm and assuring citizens that “governance proceeds without interruption.”

“The President left Paris for London at the weekend and has maintained constant communication with key government officials, overseeing critical national matters, including directives to security chiefs to address emerging threats in some parts of the country.

“His return to Abuja and the resumption of duties at Aso Villa will follow the conclusion of the Easter holiday.

“We appreciate the public’s concern and assure all Nigerians that governance proceeds without interruption,” the statement read.

Although the Presidency did not specify the purpose of Tinubu’s stay in Paris and London, it follows a pattern of working visits the President has undertaken since assuming office nearly two years ago.

Thursday’s statement was ostensibly in response to criticisms by the opposition, who questioned Tinubu’s stay abroad while the country was bleeding from killings, particularly in Plateau and Benue states.

The concerns were raised by former Vice President Atiku Abubakar and the 2023 presidential candidate of the Labour Party, Peter Obi, who questioned Tinubu’s absence while the country grapples with heightening insecurity.

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