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Nigeria bans sugar importation, derivatives from Free Trade Zones

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The government announced the ban in a directive from the Ministry of Industry, Trade and Investment to the Nigerian Ports Authority (NPA), Lagos Port Complex, Apapa, Lagos.
NPA in a letter signed by Buba Jubril for the Port Manager, Lagos Port Complex said, the ban is to protect the sugar industry, which is governed by the Nigerian Sugar Master Plan (NSMP).
“It has recently come to our notice that due to the recent location of a Sugar Refinery in a Free Trade Zone, Refined Sugar is being imported into the Nigerian Customs Territory under the concession granted to enterprises in the Free Trade Zones to export 100% of their output to the Nigerian Customs Territory, and this is real potential threat to the goals of the Nigerian Sugar Master Plan (NSMP),” NPA said. ....

Buba Jubril , Nigerian Ports Authority , Ministry Of Industry , Integration Program , Federal Government , Free Trade Zones , Lagos Port Complex , Port Manager , Nigerian Sugar Master Plan , Sugar Refinery , Free Trade Zone , Nrefined Sugar , Nigerian Customs Territory , Nigeria Sugar Industry , Nigerian Sugar , Backward Integration Program , Raw Sugar , Honourable Minister , Lagos Port Complex , Ministry Of Industry , Igeria Sugar Importation , Rade And Investment To The Nigerian Ports Authority Npa , நைஜீரியன் போர்ட்ஸ் அதிகாரம் , அமைச்சகம் ஆஃப் தொழில் , ஒருங்கிணைப்பு ப்ரோக்ர்யாம் , கூட்டாட்சியின் அரசு ,

Nigeria Suspends Importation of Refined Sugar, Derivatives from Free Trade Zones

Naija247news.com is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy. ....

Buba Jubril , Nigerian Ports Authority , Ministry Of Industry , Integration Program , Federal Government , Free Trade Zones , Nigerian Sugar Master Plan , Lagos Port Complex , Nigerian Customs Territory , Port Manager , Lagos Port , Honourable Minister , Sugar Refinery , Free Trade Zone , Nrefined Sugar , Nigeria Sugar Industry , Nigerian Sugar , Backward Integration Program , Raw Sugar , நைஜீரியன் போர்ட்ஸ் அதிகாரம் , அமைச்சகம் ஆஃப் தொழில் , ஒருங்கிணைப்பு ப்ரோக்ர்யாம் , கூட்டாட்சியின் அரசு , இலவசம் வர்த்தகம் ஸோந்ஸ் , நைஜீரியன் சர்க்கரை குரு திட்டம் , லாகோஸ் போர்த் சிக்கலான ,

Nigeria halt foreign currency for sugar, wheat imports -central bank

Nigeria will no longer provide foreign currency for importers of sugar and wheat, the central bank said on Twitter on Friday, as the country tries to conserve national dollar reserves.
Africa’s most populous country, and its biggest economy, relies on imports to feed its 200 million people. The central bank restricted access in 2015 to foreign exchange for 41 items it says can be produced locally, and has added to the list since then.
“Sugar and wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them,” the central bank said in a tweet. ....

Ministry Of Industry , Integration Program , World Trade Organization , Honourable Minister , Sugar Refinery , Free Trade Zone , Nrefined Sugar , Nigerian Customs Territory , Free Trade Zones , Nigerian Sugar Master Plan , Nigeria Sugar Industry , Nigerian Sugar , Backward Integration Program , Raw Sugar , Federal Government , அமைச்சகம் ஆஃப் தொழில் , ஒருங்கிணைப்பு ப்ரோக்ர்யாம் , உலகம் வர்த்தகம் ஆர்கநைஸேஶந் , க .ரவமான அமைச்சர் , சர்க்கரை சுத்திகரிப்பு நிலையம் , இலவசம் வர்த்தகம் ஸோந் , சுத்திகரிக்கப்பட்டது சர்க்கரை , இலவசம் வர்த்தகம் ஸோந்ஸ் , நைஜீரியன் சர்க்கரை குரு திட்டம் , நைஜீரியன் சர்க்கரை , ரா சர்க்கரை ,

The 'sugar dispute' is Nigeria's Clash of the Titans - By: Hannatu Musawa

While, a monopoly in an economy could not be described as an animate being in the same way that mythical Medusa was, its menace of destructively consuming communities renders it an altered personification of a hydra-headed monster itself. And like most fabled Gorgon monsters, a valiant heroic Titan is needed to defeat it.
In our world, the recent ‘sugar’ dispute between Dangote Industries Limited and The BUA Group is a modern-day reverberating saga of how this different form of hydra-headed monster, is being confronted and gallantly defeated by one of Nigeria’s very own indigenous Titans.
A monopoly, in any form, is truly a hydra-headed monster, which has a penchant for destroying the Nigerian dream and does not prognosticate well for the economy primarily. There are several facets that render a monopoly a hydra-headed monster, least of which is that it creates a market concentration that likely results in higher commodity prices than in a more competitive market. ....

United States , Kwara State , Port Harcourt , Tin Can Island , Kano State , Federal Republic Of Nigeria , Alhaji Aminu Babba Danagundi , Alhaji Aliko Dangote , Herbert Hoover , Latif Busari , Harry Hamlin , Abdullahi Umar Ganduje , Niyi Adebayo , Umaru Musa Yaradua , Muslim Ramadan , Alhaji Aminu Dantata , Alhaji Abdussamad Rabiu , Chairmen Of Dangote Industries , Integration Program , Flour Mills Of Nigeria Plc , Nigeria Export Processing Zones Authority , Dangote Group , Nigerian Ports Authority , Group Port Harcourt , National Sugar Development Council , Dangote Industries ,

The struggle for soul of sugar market in Nigeria and matters arising

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Dabiri-Erewa, Uwais to coach participants of Bolaji Abdullahi mentorship programme
Abike Dabiri-Erewa, chairman, Nigerians in Diaspora Commission (NIDCOM), and Maryam Uwais, special adviser to the president on social investment, will coach mentees in the second cohort of the Bolaji Abdullahi.
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The International Monetary Fund (IMF) has asked the Nigerian government to implement a minimum of three reforms to boost the country’s economy.Advertisement Abebe Selassie, IMF director of African department, spoke. ....

Port Harcourt , Rivers State , Otunba Niyi Adebayo , John Coumantaros , Alhaji Abdulsamad Rabiu , Aliko Dangote , Dangote Group , Nigerian Communications Commission , National Sugar Development Council , Integration Program , Dangote Industries , Flour Mills Of Nigeria Plc , Honorable Minister , Otunba Niyi , Flour Mills , Dangote Industries Limited , Federal Government , Nigerian Sugar Master Plan , Sugar Refinery , Backward Integration Program , Nigerian Government , Messrs Aliko Dangote , Nigerian Sugar Master , போர்த் ஹர்கார்ட் , ஆறுகள் நிலை , நைஜீரியன் தகவல்தொடர்புகள் தரகு ,