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Fg’s Ban On Importation Of Rice And Others Has Only Increased Poverty - Business - Nairaland

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Fg’s Ban On Importation Of Rice And Others Has Only Increased Poverty by samueloduoye(m): 11:15am On Mar 06, 2019
As parts of efforts to cushion the effects of declining oil prices in 2015, the Federal Government through the Central Bank of Nigeria (CBN) banned on the importation of 41 items including rice from accessing forex in the official foreign exchange market. The CBN argued that the measure will conserve the nation’s foreign reserves and encourage local production.

The government has also banned many more products since then, but instead of helping us, the move has rather increased poverty and inflation.

Read full article here: https://qwenu.com/2019/03/05/assessing-the-impact-of-cbns-policies-to-eradicate-importation/
Re: Fg’s Ban On Importation Of Rice And Others Has Only Increased Poverty by OyinO: 8:17am On Mar 09, 2019
Then it is not the ban that created the poverty, but the poor people's lack of willingness to delve into agriculture and create wealth for themselves.

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