Business News
Government adds to list of import bans
Jan 7, 2004, 22:59
| | The Federal Executive Council on 7 January 2004 approved an additional list of banned import goods in Nigeria.
The ban is to stop the dumping of cheap and sub-standard import goods, which manufacturers say are accelerating the decline of local industries.
Information and National Orientation Minister, Chief Chukwuemeka Chikelu said at a post FEC briefing session that the ban would facilitate jobs creation.
He also observed that the foreign exchange spent on importing such items constitutes a huge drain on the country’s foreign reserves.
The minister listed the items included in the banned import list as follows:
*Corrugated boards and curtains
*Textile
*Men’s footwear and bags (leather and plastics)
*Soap and detergents
*Furniture
*Bicycles (assembled)
*Flowers (fresh and plastic)
*Fresh food
*Cutlasses and associated products
*Toothpaste
*Pencils and ball point pens
*Plastic Products
*Barite and bentonite
*Vegetable oil
*Meat products
Government granted a 90-day grace period for those engage in such import businesses to conclude all transactions.
Related Article:
Government expands import restriction list
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