By Ola Kay
A Pro-democracy group, The Democratic Front,TDF, has commended the federal government for the implementation of duty-free window on essential food imports as a short-term measure to address the high cost of food items in the country.
In a statement signed by its Chairman, Mallam Danjuma Muhammad and the Secretary, Chief Wale Adedayo, the group stated that the gesture was a reflection of the extent to which President Bola Tinubu is prepared to go to arrest the effects of the global cost of living crisis in Nigeria.
The group noted: “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.”
TDF attributed the drop in inflation for the first time in 19 months,from 34.19% to 33.3% in July 2024 to the various interventions and deft management of the economy by the Tinubu administration, adding that It is to the administration’s credit that the national minimum wage was increased by over 100 % including the Nigerian students access to educational loans as well as the introduction of a scheme to enhance consumers access to credit.
The group went further to acknowledge that, “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.”
The TDF statement urged Nigerians to welcome the approval of zero per cent Import Duty and VAT policy by the President as a selfless and strategic move to reduce food prices in the country while at the same time calling on certain interest to desist from the unpatriotic act of hoarding and profiteering mercantile capable of driving 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,” the group emphasized as it called on the Nigeria Customs Service and other stakeholders particularly to play by the rules and adhere strictly to the President’s directives on the implementation of the policy.
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