Daily Archives: April 22, 2018

FG weighs raising levy on imported starch to boost local cassava production

The Federal Government is said to be considering levying imported sweeteners, flour and ethanol in order to reduce the food import bill and boost local investment in cassava processing, the ingredient from which starch is derived.

Despite been the world’s largest producer of cassava, Nigeria still imports most of its industrial starch, a by-product of cassava. With an import levy, the government hopes to reverse the trend under an “Industrial Cassava Policy.”