Nigeria Plans to Suspend Import Levies on Food to Ease Inflation.

Nigeria is considering suspending import duties on staple food, drugs, and other essential items for six months in an effort to combat inflation. The government may also waive levies on fertilizers, poultry feed, flour, and grains. Additionally, the administration plans to stop borrowing from the central bank and implement measures to provide low-interest loans to the agriculture, pharmaceutical, and manufacturing sectors. These actions are being taken in response to rising inflation and a weakening currency, which have led to increased interest rates and a decline in living standards. [Extracted from the article]