FG Sets Up Cassava Flour Development Fund, Discourages Wheat And Flour Imports

The Nigerian Federal Government is pushing ahead with its policy on cassava bread in spite of opposition by the House of Reps, which had passed a resolution rejecting the policy on the premise that it could have serious health implication on some citizens.
The FG today rolled out additional taxes aimed at discouraging continued importation of wheat and flour into the country, which would force bakers to turn to cassava in making breads for local consumption.
The Minister of Finance Ngozi Okonjo-Iweala, announced the removal of the 10 per cent tariffs on cassava enhancing enzymes effective from Sunday, 15th July this year, as well as the 65 % levy on wheat and flour imports, in addition to the 35 per cent duty.
According to the minister, the money to operate the Cassava Flour Development Fund (CFDF) would be sourced from the newly imposed 65 levy on wheat imports, and a substantial part of the Fund would go into training of the over 400,000 master bakers across the country.
According to Iweala the success of the policy would not only save the country of up to N635 billion yearly on wheat import cost but also help in creating jobs and improving the well-being of Nigerian farmers amongst other benefits for the economy.

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