News
Inflation: Tinubu to suspend import duties on food items, drugs, others for 6 months
The Federal Government is planning a six-month suspension of import duties on staple food items, drugs, and other essential items as a measure to curb inflation.
This was contained in an executive order issued by the president and seen by Nairametrics.
The document seen by Nairametrics did not include the signature of the President however Nairametrics can verify the source.
The document also includes plans to waive levies on fertilizers, poultry feed, flour, and grains.
The Inflation Reduction and Price Stability Order, as outlined in the document, will mandate the Ministry of Finance and the Central Bank of Nigeria to devise a plan for offering low-interest loans to the agriculture, pharmaceutical, and manufacturing sectors.
“The import duty and other tariffs are to be suspended on the following for six months:
Staple food items;
Raw materials and other direct inputs used for manufacturing:
Inputs for agriculture production including fertilisers, seedlings, and chemicals
Pharmaceutical products
Poultry feeds, flour and grains” the document said.
The president is also likely to suspend value-added tax (VAT) on automotive gas oil, some basic food items and semi-processed staple food items such as noodles and pasta, raw-material inputs for the manufacture of food items, electricity and public transportation, as well as agricultural inputs and produce and pharmaceutical products for the rest of the year.
Importation of Paddy Rice
Nairametrics had earlier reported that the federal government in its Accelerated Stabilization and Advancement Plan (ASAP) report submitted by Finance Minister, Wale Edun, is considering the importation of paddy rice into the country as well as maize.
The ASAP report recommended an executive order on the importation of paddy rice to millers to stem the growing tide of food inflation across the country.
The document also recommends the following:
Import duty & VAT suspension on specified items
Importation of paddy rice by millers
Import duty exchange rate peg
Meanwhile, the proposed plan by the federal government conflicts with earlier statements by President Tinubu on food imports earlier this year.
The President in an address to State Chairpersons of his All Progressive Congress (APC) had stated that his administration will not continue food imports hoping to turn the present challenge into an opportunity for the future.
What you should know
In Nigeria, a food crisis looms large, challenging the nation’s stability. Food prices have surged, with food inflation reaching 40.5%.
Among the hardest-hit commodities is rice, a dietary staple. In the past year alone, rice prices have skyrocketed by 169%, reaching nearly N90,000 per bag in March and April.
This sharp increase in food costs is placing immense strain on households across the country, exacerbating an already fragile economy.
It’s estimated that around 31 million Nigerians may face severe food shortages by August this year.
The repercussions of this crisis extend far beyond economic concerns, impacting health, education, and overall societal well-being.
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for yesterday 11th September, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1525 and sell at N1550 yesterday 12th September 2025, according to sources at Bureau De Change (BDC). …CLICK LINK TO CONTINUE READING
Amidst swirling rumors surrounding Oseloka Obi, the son of Peter Obi, the Labour Party’s presidential candidate for 2023, a new twist has emerged regarding persistent allegations about his gender identity.
In response to a flurry of speculation, Oseloka has taken a stand against the viral claims connecting him to homosexuality, which were sparked by the circulation of photographs featuring him alongside Kent Okwesa, a British-Nigerian based in London. Click link to continue reading.
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Pep Guardiola’s side are in the bottom half of the Premier League table heading into the clash having lost back-to-back matches against Tottenham and Brighton before the international break. Click link to continue reading.
The General Superintendent of the Deeper Christian Life Ministry, Pastor William Folorunsho Kumuyi, has announced a series of changes to some of the long-standing rules of the church, saying many of them were never scriptural but were introduced for administrative purposes.
Pastor Kumuyi, widely regarded as one of the most influential church leaders in the world, is the founder of Deeper Life Bible Church, which began in 1973 as a small Bible study group in Lagos.
Over the decades, the ministry has grown into a global Christian movement. The Lagos headquarters alone attracts over 120,000 worshippers weekly, placing it among the five largest single congregations worldwide. In Nigeria, the church boasts more than one million members with over 5,000 branches, and a further 3,000 branches spread across Africa, Europe, and North America.
Speaking at the church 2025 Global Family and Marriage Conference, Pastor Kumuyi announced modifications to certain marriage rules that had long been regarded as doctrinal. He clarified that many of these practices were never rooted in the Bible but were merely administrative guidelines designed to provide structure.
One of the major changes is the cancellation of the restriction that prevented a lady from visiting her suitor before marriage. According to Kumuyi, intending couples may now visit each other during courtship, provided they are accompanied by an elder. The long-held six-month mandatory courtship period has also been scrapped. “We just felt you need some time to know one another. And then we said one month will be too short, two months too short. So, why not six months? But it is not from the Bible,” he said.
He stated the importance of Christians being able to distinguish between God’s commandments and church traditions.“As a Christian, you need to be so mature that you know the difference between the law of God and the principles in the church. Six months is all right, but it’s not something inflexible. If we change it to three months, we’re not changing the Bible, because six months is not in the Bible,”
Pastor Kumuyi also clarified the role of marriage committees in Deeper Life, noting that their purpose was to provide guidance and not to exercise authority beyond what is written in the scriptures. “There’s no marriage committee in the New Testament. We created it to help you, not because we can give you a chapter and a verse. It is church administration,” he stated.
These changes are seen by people as another step in the ongoing review of church practices that many members and outsiders have often considered too strict. Since founding the church has faced both admiration and criticism for its distinct doctrines. Some of its earlier beliefs and practices have either been misinterpreted or have since evolved:
Technology Use: The church, which once opposed television and modern gadgets, now embraces media and social platforms for evangelism.read the gospel.
Marriage Rules: Inter-church marriages are now accepted, provided the partner is from a Bible-believing church with a holy standard of living.
Dress Code: The church still emphasizes modesty, but women no longer have to tie scarves at all times, and men are not strictly bound to suits.
Medical Treatment: While rumors once suggested Deeper Life discouraged hospital visits, today members are encouraged to seek proper medical care when needed.
Christmas Celebrations: Although many members spend Christmas at church camps, the church has clarified that celebrating Christmas is not forbidden.
Other misconceptions, such as supposed food restrictions or claims that Pastor Kumuyi had relocated to the UK, have also been dispelled.
Through these reforms, Pastor Kumuyi is reinforcing his long-held belief that while order is necessary in the church, it must never be mistaken for scripture.
Source: City People
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for yesterday 11th September, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1530 and sell at N1550 yesterday 11th September 2025, according to sources at Bureau De Change (BDC). …CLICK LINK TO CONTINUE READING
The likelihood of former President Goodluck Ebele Jonathan entering the presidential race in 2027 is becoming increasingly apparent, particularly given the recent developments surrounding his potential candidacy.
Reports suggest that Jonathan is discreetly meeting with key political figures across the country, which adds to the anticipation surrounding his possible return to politics. Click link to continue reading.
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