FG Deserves Credit for Subsidizing Food Imports – Group

The Democratic Front (TDF) has welcomed the implementation of the duty-free window for essential food imports into the country as a commendable short-term measure to address the high cost of food items.

In a statement signed by its Chairman, Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, the group said the gesture reflects the extent President Bola Tinubu is prepared to go to arrest the effects of the global cost of living crisis in Nigeria.

“We laud President Bola Ahmed Tinubu’s approval of the zero per cent Import duty and VAT exemptions on essential food items to ease hardship and hunger in Nigeria.

“The policy which takes effect from August 15, 2024 leaves nobody in doubt as to the extent President Bola Tinubu is prepared to go in mitigating the high cost of food prices in the Nigerian markets, by making essential commodities more affordable for the citizens.

“We are, indeed, quite elated to note that despite his dogged and aggressive pursuit of fundamental economic reforms and restructuring in an effort to pave the way for a sustainable and prosperous socioeconomic development, the President has continued to lace-up his economic policies and actions with human face and the milk of kindness.

“It is in the light of the above, that the TDF views the plethora of federal government’s interventions and palliatives, including the sacrificial concession to sell the country’s crude oil to local refineries in Naira, as an overwhelming show of consideration and sensitivity to the plight of Nigerians. The president has an avid determination to bring an end to the suffering of the people.

“We therefore posit that the consistent display of responsive and responsible actions by the President in attending to the challenges of governance since 29th May 2023, make it unnecessary for any individual or group to resort to civil disobedience or mass protests, like it was recently witnessed. President Tinubu, being a grassroot politician himself, does not need to be unduly pressured to know how the masses feel as regards pressing national issues.

“It is to the credit of the various interventions and deft management of the economy by the Tinubu administration that resulted, for the first time in 19 months, to a drop in inflation from 34.19% to 33.3% in July 2024.

“It is to the administration’s credit that the national minimum wage was increased by over 100 % and that history was made with Nigerian students having access to educational loans as well as the introduction of a scheme to enhance consumers access to credit.

“There is also an expectation of cheaper petroleum product through the sale of crude oil to Dangote Refinery in local currency. These strides represent a significant fraction in the quantum of President Tinubu’s achievements since he came to office as president.

“So we call on Nigerians to welcome the remarkable approval of the zero per cent Import Duty and VAT policy by the President as a selfless and strategic move to reduce food prices in the country.

Similarly, we are urging our people to desist from the unpatriotic act of hoarding and profiteering mercantile that often drives food prices beyond the reach of the ordinary citizens.

“We must bear in mind that it was the magnanimity and commitment of the President to his personal principle of putting the people first above every other considerations, that has made the federal government to wave inflow N188 bn into the federation account through the suspension Custom Duty and VAT on imported food items.

TDF also called on the Nigeria Customs Service and other stakeholders to play by the rules and adhere strictly to the President’s directives on the implementation of the policy.

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