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BREAKING: FG Unveils Measures To Overcome High Food Prices, To Suspend Taxes On Importation Of Food Commodities For 180 Days - PorscheClassy Media
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BREAKING: FG Unveils Measures To Overcome High Food Prices, To Suspend Taxes On Importation Of Food Commodities For 180 Days

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The Nigerian government has declared a temporary suspension of duties, tariffs, and taxes on the importation of specific food items, including maize, husked brown rice, wheat, and cowpeas.

According to a statement released by Abubakar Kyari, the Minister of Agriculture and Food Security, on Monday, this measure is part of a comprehensive plan to address food inflation in Nigeria over the next 180 days.

This move aims to provide relief and mitigate the effects of food price increases in the country.

At a press briefing today, the Minister of Agriculture and Food Security, Senator Abubakar Kyari, said the measures will be implemented over the next 180 days:

1. A 150-Day Duty-Free Import Window for Food Commodities

a. suspension of duties, tariffs and taxes for the importation of certain food commodities (through land and sea borders)

b. These commodities include Maize, Husked Brown Rice, Wheat and Cowpeas

c. Under this arrangement, imported food commodities will be subjected to a Recommended Retail Price (RRP).

(I am aware that some good citizens might be concerned about the quality of the would-be imported food commodities as it relates to the trending worries around the genetic composition of food.) I am glad to reiterate that the Government’s position exemplifies standards that would not compromise the safety of the various food items for consumption.

2. In addition to the importation by private sector, Federal Government will import 250,000MT of Wheat and 250,000MT of Maize. The imported food commodities in their semi processed state will target supplies to the small-scale processors and millers across the country.

3. Engage relevant stakeholders to set a Guaranteed Minimum Price (GMP) and mop up surplus assorted food commodities to restock the National Strategic Food Reserve.

4. Continuous ramp-up production for the 2024/2025 farming cycle.

a. sustained support to smallholder farmers in the ongoing wet season farming through existing government initiatives.

b. strengthen and accelerate Dry Season Farming across the country.

c. embark on aggressive agricultural mechanization and development to reduce drudgery, drive down the cost of production and boost productivity.

d. collaborate with Sub-National to identify irrigable lands and increase land under cultivation.

e. work closely with the Federal Ministry of Water Resources and Sanitation, to rehabilitate and maintain irrigation facilities under river basin authorities across the federation.

f. development of a strategic engagement for youth and women across the federation for immediate greenhouse cultivation of horticultural crops such as tomatoes and pepper to increase production volume, stabilize prices, and address food shortages.

g. fast-tracking ongoing engagements with the Nigerian Military to rapidly cultivate arable lands under the Defence Farms Scheme, while encouraging other Para-Military establishments to put secured available arable lands to cultivation.

5. The Renewed Hope National Livestock Transformation Implementation Committee will be inaugurated on Tuesday, 9th July 2024 with a view to developing and implementing policies that prioritize livestock development and ensure alignment with the National Livestock Transformation Plan.

6. Enhancement of Nutrition Security through:

a. the promotion of production of fortified food commodities and

b. offer necessary support to scale up the Home Garden Initiative by the Office of The First Lady of the Federal Republic of Nigeria.

Over the next 14 days, in close collaboration with the Presidential Food Systems Coordinating Unit (PFSCU) and the Economic Management Team (EMT), we will convene with the respective Agencies to finalize the implementation frameworks.

We will ensure that information is publicly available to facilitate the participation of all relevant stakeholders across the country.

The PFSCU will manage a dashboard for Mr. President, providing him with direct visibility into these interventions and ensuring accountability.

The success of the measures aforementioned is contingent on cooperation and collaboration of all relevant MDAs and stakeholders.

As our nation confronts a critical food security challenge, let me reiterate Mr. President’s unwavering commitment to attaining food security and ensuring that no Nigerian goes to bed hungry.

To this end, I can assure all Nigerians, that my team and I, will swiftly and diligently actualize these crucial policies to ensure food security for everyone in the country in the immediate term as we also continue our strategies for long-term interventions to address the underlying causes and ensure sustainable and resilient food systems in the country.

BIG STORY

South Africa Begins Use Of Groundbreaking HIV Prevention Drug

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South Africa has begun administering lenacapavir, a long-acting HIV prevention drug, to selected individuals as part of a new study led by Wits RHI at the University of the Witwatersrand and funded by Unitaid.

The move comes just five months after the US Food and Drug Administration granted its first approval for the drug’s use in HIV prevention.

Lenacapavir has shown remarkable results in clinical trials, offering near-complete protection against HIV and outperforming existing pre-exposure prophylaxis (PrEP) options.

The injectable drug is taken twice a year and was initially projected to cost about $28,000 per user annually.

However, a pricing deal brokered by the Clinton Health Access Initiative (CHAI), working alongside Dr Reddy’s Laboratories, Unitaid, the Gates Foundation, and Wits RHI, has slashed the cost to about $40 — a reduction aimed at making the drug affordable in low- and middle-income countries.

In a statement on Monday, Unitaid said the study will provide the Department of Health with the evidence they need to adapt quickly and in real time as they integrate lenacapavir into existing HIV prevention programs.

“These early learnings on real-world use will also apply to other countries adopting lenacapavir,” the statement reads.

“Making new medicines widely available in low- and middle-income countries can take up to a decade or longer as regulatory approvals must be obtained, manufacturing must be secured, and prices must come down.

“Global momentum behind lenacapavir has set the drug on a rapid trajectory: South Africa registered the drug in record time in late October, followed by Zambia in November, and the first doses have already been delivered in Zambia and Eswatini through The Global Fund and PEPFAR. Broader rollout in early adopter countries is expected in early 2026.”

Aaron Motsoaledi, South Africa’s minister of health, said the country is working with relevant stakeholders to make lenacapavir available to the most vulnerable populations who are at higher risk of HIV infections.

“These early efforts from Unitaid and Wits RHI will help us fine-tune how lenacapavir is delivered through our health system so we can reach as many people as possible with this new Pre-Exposure Prophylaxis (PrEP) option, especially adolescent girls, young women, and pregnant and breastfeeding women,” he said.

In Brazil, a similar study led by Fiocruz is also underway.

Insights and tools from the Fiocruz study in Brazil will help guide rollout strategies within the country and across Latin America.

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BIG STORY

It’s Impossible For Repentant Boko Haram Members To Join Military – Ex-CDS Irabor

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Former Chief of Defence Staff, Retired General Lucky Irabor, has dismissed the common perception that repentant Boko Haram terrorists are being recruited into the Nigerian military.

Speaking as a guest on Channels Television’s Politics Today on Monday, General Irabor, who wondered where people got that impression from, insisted that recruitment of repentant terrorists into the military “does not exist.”

“It has always been a burden for me, where we got this impression from. How can they be recruited? This does not exist,” General Irabor said.

He further explained that, having served at the top echelon of the Nigerian military for many years, it is practically impossible for repentant terrorists to find their way into the system.

“Before I became CDS, I was Theatre Commander, Operation Lafiya Dole. From there, I crossed over to become Force Commander, Multinational Aid on Taskforce. When I left, I became Chief of Defence Training and Operations, overseeing all that.

“And then I became Theatre Commander and later got appointed as CDS, a position I spent two and a half years in. How could it be? Where people got that impression, I cannot tell.”

“It is impossible. Besides, you can’t come into the military if those in your local government have not actually sanctioned you,” he added.

He noted that Operation Safe Corridor handles the deradicalisation of low-risk arrested terrorists and facilitates their reintegration into society.

While acknowledging inconsistencies in handling insecurity in the country, General Irabor rejected the notion that these challenges result from a failure on the part of security operatives.

He noted that there are gaps that need to be addressed to improve the fight against insecurity, chief among them being manpower and equipment.

The former military chief said that addressing insecurity is not solely about spending money, arguing that the volume of funds expended does not necessarily translate to efficiency.

He emphasized the importance of taking time to listen and understand the problems in order to address them effectively.

 

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FG Offers 50 Oil Blocks, Targets $10bn Investments In 2025 Licensing Round

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially launched the 50-oil-block 2025 licensing round portal, with a view to attracting fresh investments worth $10 billion.

The round is also expected to add approximately two billion barrels to the national oil reserves over the next decade.

The Commission Chief Executive, Engineer Gbenga Komolafe, said at a press conference on Monday, that 50 oil and gas blocks are on offer across onshore, swamp/shallow water, frontier basins, and deepwater terrain.

The breakdown of the blocks includes 15 onshore blocks, 19 shallow-water blocks, 15 frontier assets, and 1 deepwater block.

Engineer Komolafe noted that when fully developed, these blocks can deliver an estimated 400,000 barrels per day.

The NUPRC outlined the key objectives of the 2025 Licensing Round, which include boosting Nigeria’s reserves, increasing production capacity, expanding gas utilisation, and creating thousands of jobs across the value chain.

Other key objectives of the Round were listed as enhancing indigenous participation and reinforcing Nigeria’s commitment to transparency in line with the Extractive Industries Transparency Initiative (EITI) principles.

 

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