The federal government, though the Ministry of Industry, Trade and Investment, yesterday banned the importation of tomato paste, powder or concentrate, and increased the tariff on importation of tomato concentrate among others from five to 50 per cent in order to revive the tomato sector.

According to operators, the value of imported tomato paste in Nigeria is about $170 million and $50 million spent on triple tomato concentrate.

In a document obtained yesterday from the Federal Ministry of Industry and trade and investment titled: ‘Implementation of the tomato sector policy’ which was signed by the Director, Industry Development of the ministry, Mr. Adewale Bakare, stated that such action would revive the sector, create jobs and preserve foreign exchange.

The document stated: “As you are aware, government has overtime engaged tomato industry stakeholders on ways to deepen the industry and particularly, encourage the use of locally produced tomato fruits across the value chain. It is in that regard that I am directed to bring to your notice the decision of the government towards boosting production and attracting investments into the tomato sector.

“These include ‘classification of greenhouse equipment as agricultural equipment to attract zero per cent import duty. Ban on the importation of tomato paste, powder or concentrate put up for retailing and others Ban on tomato prepared or preserved by vinegar or acetic acid and others.

“Increase in the tariff on the tomato concentrate and other concentrates (HS Code 2002.90.11.000) from five percent to 50 percent and additional levy of $1,500 per metric tons with the objective of increasing the current tariff from five percent to 50 percent (35percent +5 percent+10 percent) and an additional levy of US$1,500 metric ton. Restriction on the importation of tomato concentrates to the seaports to address abuse of ECOWAS Trade Liberalisation scheme (ETLS) and inclusion of tomato production and processing in the list of industries eligible for investment incentives administered by the Nigeria Investment Promotion Commission (NIPC).”

It further stated that “It is expected that the foregoing measures which are situated within the overall road map for the development of the industry, will create jobs, save foreign exchange and create capacity for export of tomato concentrate and paste to ECOWAS sub –region and beyond.”

http://investorsking.com/fg-bans-importation-of-packaged-tomato-paste/

Hope We Have A Tomato Factory To Meet Local Demand

jjbest123:
Hope We Have A Tomato Factory To Meet Local Demand

Dangote, Erisco, etc but I hope their quality is the same with their foreign counterparts.

Truth234:


Dangote, Erisco, etc but I hope their quality is the same with their foreign counterparts.

Hope The Meet Up With Demand, Quality Is What We Need

It's a nice development, but I hope we do have a plan? ( Exporting rather than importing)

Hope Erisco has relocated to China like he said? let's see how he's going to sell his tomato paste in Nigeria.

It will be nice if it strengthened our foreign exchange

It's a welcomed development. Too many unknown tomato pastes flooding the market. Let's patronise our local content.

Erisco tomato paste is the best but very scarce in the market here in the north.

But fresh/packaged tomatoes within the country has not sustained us enough but anyway.... kudos to FG.

I hope the govt has made provison for close substitute, we dont not want shotage of tomatoes paste in the market ooo and Iya Basira increasing the amount of mama put food ooo


Sms vote Tboss to 32052 to save Tboss

After frustrating erisco out of Nigeria, they are now baning its importation in order to give dangote monopoly over another important sector! They should continue!!

Btw, We have lands available for sale in different parts of Owerri. Just check my signature or contact Galaxy properties for more details.

InvestinOwerri:
After frustrating erisco out of Nigeria, they are now baning its importation in order to give dangote monopoly over another important sector! They should continue!!

Erisco is still in Nigeria. Na so e easy to relocate to China?

Good for local manufacturers. FG should just create a more enabling environment for them and most of all good access to FX. Nigeria will be great again

Good move

Gino nko :

The document stated: “As you are aware, government has overtime engaged tomato industry stakeholders on ways to deepen the industry and particularly, encourage the use of locally produced tomato fruits across the value chain



Stakeholders are involved

Good move

That's how they banned importation of rice that we normally buy @7,500-9000 for home grown rice that we now have to thank the government after buying substandard rice @13000. Now its tomatoe paste. No problem, I just discovered cooking jollof rice or spaghetti with correct ingredients no need tomato paste so far you don get dry pepper, before I can't do without it, and I don't need tomato to make egusi or draw soup. And to make real soup, I use real tomato. So using tomato paste now, for me, is not by force.

Another opportunity for Dangote to become richer...

My people down south, sorry o.

APC always making things hard for people nd you tell me thunder wouldn't roast this people





Oh my lovely PDP what really went wrong

Dangote to benefit from this

more items like these are going to banned in subsequent months... it is inevitable.... FG is trying to reduce the demand for the dollar for importation.

They are still making things worse

Ahan! That's more like it.

I was already writing an article against Tomato paste importation

Good

Lucy001:


Sms vote Tboss to 32052 to save Tboss

I will rather organize and sponsor another campaign for "BUBU" rather than save "TBOOBS"

wow nice one jor.. God will surely guide this government to the promise land

jjbest123:
Hope The Meet Up With Demand, Quality Is What We Need

nigeria would never grow with your kind of mentality. Do you think there is good quality anywhere in the world. I have worked in production here in CA for years. All this oyinbo ppl do is hype. Their stuff is shit.

Ezedon:
They are still making things worse

Are you kidding me?

Do you know anything about Currency devaluation?

Finally...