Inflation: Grant concessionary import duty to food processors, industrialists – CPPE urges FG

The Centre for the Promotion of Private Enterprise, CPPE, has advised the federal government to grant food processors and industrialists concessionary import duty as a solution to tackling rising inflation in Nigeria.

In a statement released to DAILY POST on Wednesday by CPPE’s CEO, Dr Muda Yusuf, he stated that stakeholders are seriously worried about Nigeria’s macroeconomic concerns.

The country’s inflation hiked to 21.09 per cent in October from 20.77 per cent in the prior month.

“To give producers and citizens some relief, the government could tweak the tariff policies by granting concessionary import duty on intermediate products for industrialists, especially those in the food processing segments of the agriculture value chain”, he stated.

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