August 22, 2018

“There is no clear cut direction where the government is heading” – Dangote

“There is no clear cut direction where the government is heading” – Dangote

Few days after Erisco Foods Limited threatened to shut down its tomato factory, Dangote Industries Limited yesterday disclosed plans to stop tomato paste production because of the harsh operating environment that gives advantage to imported production.
Group Vice President of Dangote Industries Limited, Alhaji Sani Dangote disclosed that the group recently stopped tomato paste production because of the harsh operating environment that gives advantage to imported products.

He also said the company would not be able to pay farmers from whom they get the raw materials unless government did something urgently.

Although, the Central Bank of Nigeria (CBN) said it would not give dollars, Dangote noted that countries like China give their people huge support and waivers that allow them access to finance that they do not really feel the forex crunch being faced by their Nigerian competitors.

Dangote who spoke at the 2nd group meeting of the Zero Hunger Committee in Abuja, expressed dissatisfaction over the delay on the part of the ministries and agencies involved to address the issue of tomato importation. The Chairman of Nigerian AgricBusiness Group (NABG) insisted that the only way out was for government to put in place a clear cut policy on tomato importation and local production, stressing: “We have been talking for the past one year and up till now there is no clear cut direction where the government is heading.” Read more 

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