| Commodities |    1345 VIEWS  |
| Commodities | |
| 1345 VIEWS | |
 |
Thursday, February 07, 2019
05:07 PM /FDC Ltd
The FGN announced a plan to prohibit the importation of tomato paste
into Nigeria as from December as part of its import substitution and
diversification strategy. As an integral part of the common external tariff of
the ECOWAS region, Nigeria runs the risk of being in default of WTO and ECOWAS
free trade protocols.
The measures are however meant to incentivize local manufacturers like
Dangote and Olam. Nigeria produces 2.3mn tonnes of tomatoes a year and is
poised to be a leading player in that space in the next few years.
The slides below summarize the events that took place in the domestic
and global commodity markets this week.
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