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CBN Restricts Milk Importation To Six Companies - Politics - Nairaland

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CBN Restricts Milk Importation To Six Companies by rodeo0070(m): 1:01pm On Feb 11
The Central Bank of Nigeria (CBN) has added milk and dairy products to the list of items not eligible for forex.

However, the bank exempted six companies from the restriction.

“As part of efforts to increase local production of milk, its derivatives and dairy products, the Central Bank of Nigeria has engaged with some companies in the industry who have keyed into the bank’s backward integration program to enhance their capacity and improve local milk production,” a notice published on the bank’s website on Tuesday read.

“Accordingly, all authorized dealers are to note that all Forms ‘M’ for the importation of milk and its derivatives shall only be allowed for the following companies:

1. Friesland Campina WAMCO Nigeria
2. Chi Limited
3. TG Arla Dairy Products Limited
4. Promasidor Nigeria Limited
5. Nestle Nigeria Plc (MSK only)
6. Integrated Dairies Limited

“For the avoidance of doubt, all established Forms ‘M’ for the importation of milk and its derivatives for companies other than the above for which shipment has not taken place should be cancelled immediately.”

The exempted companies have begun investments in local milk production as part of the central bank’s backward integration plan.
https://brandspurng.com/2020/02/11/cbn-restricts-milk-importation-to-six-companies/

10 Likes

Re: CBN Restricts Milk Importation To Six Companies by omowolewa: 1:03pm On Feb 11
Monopoly is not good for the economy

Commentor:


What of oligopoly?

Kare

62 Likes 1 Share

Re: CBN Restricts Milk Importation To Six Companies by BitCraftman: 1:16pm On Feb 11
This is a forced system and not a open one. They are giving forex to importers with diary farm capable of producing milk with the hope that they would eventually grow their milk output to stop the import as time goes and the released forex is reduced. It looks strategic but I smell the usual pady-pady arrangement that ruins thins in Nigeria.

65 Likes 3 Shares

Re: CBN Restricts Milk Importation To Six Companies by Okoroawusa: 1:29pm On Feb 11
These companies have shown readiness to set up diary farms

17 Likes 3 Shares

Re: CBN Restricts Milk Importation To Six Companies by GamalNasser: 1:31pm On Feb 11
I thought dull Buhari said his fulani cattles could provide milk for country why this policy somersault again grin grin very stupid govt

60 Likes 4 Shares

Re: CBN Restricts Milk Importation To Six Companies by GamalNasser: 1:37pm On Feb 11
BitCraftman:
This is a forced system and not a open one. They are giving forex to importers with diary farm capable of producing milk with the hope that they would eventually grow their milk output to stop the import as time goes and the released forex is reduced. It looks strategic but I smell the usual pady-pady arrangement that ruins thins in Nigeria.

Oga they have found out that Fulani cattles cannot produce any useful amount of milk so this is actually a save face approach

47 Likes 2 Shares

Re: CBN Restricts Milk Importation To Six Companies by Engrdoodles: 1:39pm On Feb 11
These people and their policies

2 Likes

Re: CBN Restricts Milk Importation To Six Companies by NigeriaBam: 1:40pm On Feb 11
cry
Re: CBN Restricts Milk Importation To Six Companies by nairalee(m): 1:40pm On Feb 11
Those companies gonna cash out BIG time

That's why they said to hammer massively in Nigeria just know some politicians. U go blow

17 Likes 1 Share

Re: CBN Restricts Milk Importation To Six Companies by LadySarah(f): 1:40pm On Feb 11
GamalNasser:


Oga they have found out that Fulani cattles cannot produce any useful amount of milk so this is actually a save face approach

Ranching system still trumps it all.

Why nomadism why not ranching. Herds men creating undue tension in the country.

Mtchewww

7 Likes 1 Share

Re: CBN Restricts Milk Importation To Six Companies by EdoPrince93(m): 1:41pm On Feb 11
Okay
Re: CBN Restricts Milk Importation To Six Companies by Kiddinpoh(m): 1:41pm On Feb 11
Lobatan!
Re: CBN Restricts Milk Importation To Six Companies by Flier: 1:41pm On Feb 11
That is why the poor will continue to go be poorer which the rich will continue to be richer
They even monopolize milk after they are done with rice
The next is going to be building materials and textiles

22 Likes 2 Shares

Re: CBN Restricts Milk Importation To Six Companies by toluleke(m): 1:41pm On Feb 11
Nigeria policy with their rich get richer and poor get poorer. Those who can bribe will always have their way through

12 Likes 1 Share

Re: CBN Restricts Milk Importation To Six Companies by Jmk9292(m): 1:42pm On Feb 11
Nothing is surprising any longer

3 Likes

Re: CBN Restricts Milk Importation To Six Companies by toprealman: 1:42pm On Feb 11
omowolewa:
Monopoly is not good for the economy
Dangote will not even listen to you

7 Likes 1 Share

Re: CBN Restricts Milk Importation To Six Companies by computerboy: 1:42pm On Feb 11
omowolewa:
Monopoly is not good for the economy

Read again.
It's not monopoly. The exempted companies have already started investments in local milk production which means they intend to stop importation soon and that's what CBN is aiming at.

7 Likes 2 Shares

Re: CBN Restricts Milk Importation To Six Companies by holyboss1: 1:42pm On Feb 11
Toor

1 Like 1 Share

Re: CBN Restricts Milk Importation To Six Companies by selemempe: 1:42pm On Feb 11
most of those companies are northern owned

2 Likes

Re: CBN Restricts Milk Importation To Six Companies by adedayourt(m): 1:44pm On Feb 11
Nothing good ever come out of this government
Re: CBN Restricts Milk Importation To Six Companies by Commentor: 1:44pm On Feb 11
omowolewa:
Monopoly is not good for the economy

What of oligopoly?
Re: CBN Restricts Milk Importation To Six Companies by SolarEdge: 1:44pm On Feb 11
Nigeria!
Re: CBN Restricts Milk Importation To Six Companies by airminem(f): 1:44pm On Feb 11
sad Dairy prices are about shooting higher again. With these i dont see prices getting low.

2 Likes

Re: CBN Restricts Milk Importation To Six Companies by Mistaicey2288(m): 1:44pm On Feb 11
Rubbish!
Re: CBN Restricts Milk Importation To Six Companies by tnewsr: 1:44pm On Feb 11
Hmmmmmm

1 Like 1 Share

Re: CBN Restricts Milk Importation To Six Companies by Kingpele(m): 1:45pm On Feb 11
embarassed please don't wail here if u don't understand what CBN just did, milk is an important commodity we all consume and should not be all comers affairs... These selected ones already have their own farms here, so they know the rudiments of the business, with time they will cut down importation of these milk cus their farms would be fully operational

13 Likes 1 Share

Re: CBN Restricts Milk Importation To Six Companies by BarrElChapo(m): 1:46pm On Feb 11
How can I be drinking milk from a cow that a herdsman has slept or sleeps with angry ?

Oluwa this experiment is not nice o. US dey, Canada dey, I for even manage UK but you had to choose Nigeria for me sad

8 Likes 2 Shares

Re: CBN Restricts Milk Importation To Six Companies by Elslim: 1:46pm On Feb 11
Hmm cheesy

1 Like

Re: CBN Restricts Milk Importation To Six Companies by payperpost: 1:46pm On Feb 11
Another 6 Dangotes in the making. , this is an attempt to make some people richer, some APC goons

1 Like 1 Share

Re: CBN Restricts Milk Importation To Six Companies by Shashikapoo: 1:46pm On Feb 11
GamalNasser:
I thought dull Buhari said his fulani cattles could provide milk for country why this policy somersault again grin grin very stupid govt
mind your language mr

3 Likes 1 Share

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