Only Six Firms Can Import Milk, Says CBN in New Policy
The Central Bank of Nigeria (CBN) has restricted importation of milk, its derivatives, including dairy products in Nigeria to six firms.
The apex bank said the measure was to promote local production of the products in the country.
In a circular signed by the Director, Trade and Exchange Department, Dr. Ozoemena Nnaji, the six firms were identified as Integrated Dairies Limited, Nestle Nigeria Plc, FrieslandCampina WAMCO Nigeria, Chi Limited, TG Arla Dairy Products Limited and Promasidor Nigeria Limited.
Part of the circular which can be found in the apex bank’s website reads:
“As part of efforts to increase local production of milk, its derivatives and dairy products, the central bank has engaged with some companies in the industry who have keyed into the bank’s backward integration programme to enhance their capacity and improved local milk production.
“Accordingly, all authorised dealers are to note that all Forms ‘M’ for the importation of milk and its derivatives shall only be allowed for the following companies: FrieslandCampina WAMCO Nigeria; Chi Limited; TG Arla Dairy Products Limited; Promasidor Nigeria Limited; Nestle Nigeria Plc and 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. Please ensure strict compliance.”
The apex bank said the choice of the six firms was as a result of their readiness to key into the CBN’s backward integration programme that will lead to local production of the product in Nigeria.
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