Traders union welcomes tax holidays on food imports, urges caution

The National Harmonised Traders Union of Nigeria (NHTUN) has expressed mixed reactions to the Federal Government’s decision to grant tax holidays on the importation of food items like maize, wheat, and rice.

While the union welcomes the move as a temporary relief from hunger and high prices, it cautions against harming the nation’s agricultural sector.

In a statement signed Wednesday by the union’s president, Dr Bature AbdulAziz, notes the high prices of commodities and lack of money have made Nigerians desperate for relief, but the government must ensure that the measure does not perpetuate reliance on imports.

He highlights that even with tax holidays, the prices of rice and wheat will remain prohibitive due to the scarcity of foreign exchange.

Instead, the union urges the government to support local farmers through irrigation farming and provide necessary resources to make Nigerian agriculture more prosperous.

This, they believe, will reduce the need for imports and create jobs.

The government has announced a 150-day duty-free import window for essential food items, including maize, wheat, and rice, as part of its Presidential Accelerated Stabilization and Advancement Plan.

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