Tag: Importation

Nigeria spends $300m annually on barite importation  — Minister

Nigeria is spending $300 million on barite importation every year, according to the Minister of Mines and Steel Development, Mr Olamilekan Adegbite. Adegbite made the disclosure while receiving the National Integrated Mineral Exploration Project (NIMEP) preliminary report on Friday in Abuja. According to him, the imported barite is used in[Read More…]

“70 per cent of the drugs in Nigeria are imported”

A Licenced Pharmacist, Mr Akinjide Adeosun, says there is urgent need for the Federal Government to establish a bank with focus on attending to the demands of the nation’s health sector. Adeosun, also Chairman and Chief Executive Officer, ST. RACHEAL’S Pharmaceuticals Nigeria Ltd., Lagos, made the call in Lagos on[Read More…]

No Going Back: Nigerian Govt Says Importation of Drugs Remains Banned

The federal government says drugs, and other pharmaceutical products, are prohibited from being imported into Nigeria, and local manufacturers with special permission to import must pay 20 percent duty. In a statement by Salisu Dambatta, director information, ministry of finance, the government said it indeed reduced tariff on some goods,[Read More…]

Senate Seeks To Ban Importation of Used Cars

The Senate Committee on Privatization, has proposed a ban on the importation of used cars. Senator Ben Murray-Bruce, who is the chairman of the committee, made this know while on an oversight visit to the assembly plant of Volkswagen of Nigeria Automobile Limited in Lagos. He urged local manufacturers to[Read More…]

Buhari Promises To Significantly Reduce The High Bill For Importation of Food Products To Nigeria

President Muhammadu Buhari has promised to explore the potentials available in agriculture and solid minerals sectors to tackle the high rate of unemployment in Nigeria. He said his administration had resolved to return to the sectors that were abandoned for petroleum in the past as a way of making the[Read More…]

Former CBN Governor, Emir Sanusi Says Nigeria Must Stop Importing To Boost Local Industries

The Emir of Kano, Alhaji Muhammadu Sanusi II, on Saturday said Nigeria must stop importing what it has in order to boost local industries and create jobs. The Emir stated this in Kaduna while inaugurating the new Council Secretariat of the Kaduna Chamber of Commerce, Industry, Mines and Agriculture (KACCIMA).[Read More…]

“Nigeria Spent $2.1billion On Rice Import In 3 Years” – CBN Governor Says Ban Will Not Be Reversed

The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele on Tuesday said the Federal Government spent 2.41 billion dollars on rice importation between January 2012 and May 2015. Emefiele made this known at a stakeholders’ meeting with officials of Paddy Rice Producing states and Rice Value chain investors[Read More…]

Buhari Pledges To Ban Rice And Tomato Importation

The presidential candidate of the All Progressives Congress, Maj.-Gen. Muhammad Buhari (rtd), on Monday, said if elected come February 14, he would ban the importation of basic items like rice and tomato in order to enhance local production of the products.He also said his administration would focus on agriculture, mining,[Read More…]