NIGERIA: CBN restrict FOREX allocation for milk importation

When the World Health Organization (WHO) recommends exclusive breastfeeding up to 6 months of age with continued breastfeeding along with appropriate complementary foods up to 2 years of age or longer, likewise, Mothers should be encouraged to breastfeed their children for at least 1 year, some Nigerians are saying the milk ban policy would rapidly increase the infant mortality rate in Nigeria.

This is what happens when we allow sentiment to take over our mindset, though the Central Bank of Nigeria (CBN) has made it clear that it only restricting foreign exchange (FOREX) allocation for the importation of milk into the country, not that it plans to ban the importation of milk into the country that it had no legal power to take such action.

According to the World Cattle Inventory (FAO) 2019, Nigeria has 20m head, also Nigeria has signed the African Continental Free Trade Area agreement, with these, the government has no choice than to aim at increasing Nigeria’s self-sufficiency for dairy, or else other African countries would flood Nigeria’s dairy market when the trade agreement begin.

Nigeria’s dairy market in 2017 was estimated at $1.5bn with over 85% met through imports and the country’s dairy market potential is estimated at approximately 2 million tons worth about $6.5bn.

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