- Nigerian government approves regulations for zero-duty rate and VAT exemption on basic food items
- Part of President’s plan to ensure economic stability and lower food costs
- Eligible items include rice, sorghum, millet, wheat, maize, and beans
- Companies must meet certain criteria to import these items
- Suspension of duty and VAT on basic food items in effect from July 15, 2024, to December 31, 2024.
Source: ensafrica.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
