Nigeria has received a shipment of 32,000 tonnes of brown rice from Thailand, marking its first significant rice import in a decade as the government aims to tackle rising food prices.
According to a Bloomberg report, the shipment, coordinated by maritime logistics company Ducat, arrived in Lagos under a federal policy that temporarily suspends import tariffs on key food items.
“Nigeria has been working diligently to find solutions that will expand and strengthen food supply accessibility,” said Adrian Beciri, CEO of Ducat.
In July 2024, Nigeria introduced a duty-free initiative, which included a 150-day suspension of tariffs, duties, and taxes on items such as rice, maize, wheat, and cowpeas. However, the policy’s implementation faced delays, largely due to issues within the Ministry of Finance.
In September, Finance Minister Wale Edun met with customs officials to accelerate the policy’s rollout.
Despite these efforts, food inflation continues to be a major challenge in Nigeria.
