By Milcah Tanimu
The Lagos Chamber of Commerce and Industry (LCCI) has criticized the Federal Government for delaying the implementation of its duty-free food importation policy. This delay followed the arrival of a 32,000-tonne shipment of brown rice from Thailand in Lagos.
Logistics firm DUCAT imported the rice to address rising food inflation, which fell slightly to 39.84% in December 2024, down from 39.93% in November 2024. However, the shipment arrived after the expiration of the government’s 180-day duty-free import window, raising concerns about the policy’s timing and effectiveness.
LCCI Director-General Dr. Chinyere Almona expressed disappointment, stating, “The delayed arrival of the rice shipment undermines the government’s efforts to curb food inflation. Timely execution of policies is essential to stabilize food prices.”
Despite government efforts, food prices continue to climb, significantly affecting household purchasing power and business operations. Almona highlighted the need for timely interventions to manage food inflation and stressed that importing rice was necessary to fill local supply gaps, but it had to occur within the correct timeframe.
The LCCI clarified that these interventions aimed to address urgent demand for rice, not to harm local rice producers.
Almona called on the government to invest in agricultural productivity by improving storage and distribution of fertilizers and grains. She also stressed that addressing security challenges, which hinder agricultural production, is crucial to long-term solutions.
Finally, the LCCI emphasized the importance of broader fiscal reforms to address structural economic challenges. The Chamber stated that increasing interest rates alone would not solve the inflation crisis and urged the government to adopt comprehensive measures to stabilize food prices and boost local production.
The delayed rice shipment has reignited discussions on the Federal Government’s handling of food inflation and the effectiveness of its policies.
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