Tuesday, October 11, 2011

Nigeria to increase tariffs on rice importation

African Examiner
11 October 2011

In a bid to making Nigeria self-sufficient in rice production, the Federal
Government has said that it will raise the tariff on imported finished rice and
imported brown rice with a view to using the higher levy on the products to
finance the country’s domestic rice production.

The government hopes to boost local rice production as substitute for funds
expended on rice importation and therefore save the country N356 billion spent
annually on rice imports while creating 1.2 million jobs in the sector.

The present administration of President Goodluck Jonathan is equally working
hard to complete the rehabilitation works on all the 17 integrated rice mills in the
country in order to secure food supply and reduce the impacts of global
instability of prices on her population.

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