Nigeria Plans to Suspend Import Levies on Food to Ease Inflation
- Tinubu may stop government borrowing from the central bank
- Government also plans to suspend some value added taxes
Bags of maize are offloaded from a truck at a market in Jibia, Nigeria on Feb. 18.
Photographer: Kola Sulaimon/AFP/Getty ImagesThis article is for subscribers only.
Nigeria is considering suspending import duties on staple food, drugs and other essential items for six months to slow inflation in Africa’s most-populous nation.
The government may also waive levies on fertilizers, poultry feed, flour and grains, according to a document seen by Bloomberg that has been sent to President Bola Tinubu for his consideration. As part of a plan to get its finances in order, the administration will also stop borrowing from the central bank through so-called ways and means advances.