Business FG To Review, Remove Forex Ban On 41 Items

[ProfRem]

The Federal Government has unveiled the Economic Recovery and Growth Plan (ERGP) for Nigeria’s economic recovery growth and sustainable development.

In the new economic recovery plan, the government said it would review and possibly remove a ban on accessing foreign exchange for 41 goods and services.

Recall that Manufacturers Association of Nigeria (MAN), members of the organised private sector have advised the federal government to review foreign exchange policy of the Central Bank of Nigeria (CBN) which placed ban on 41 items from accessing the forex market.



The ERGP focuses on achieving macroeconomic stability and economic diversification by undertaking fiscal stimulus, ensuring monetary stability and improving the external balance of trade.

The items include rice, cement, margarine, palm kernel, meat, chicken, sardines, roffing sheets among others.

 

[curator]

Maybe when they make the announcements we should ask them what the objectives are. Then we can then measure success or failure by their objectives.

 

[ProfRem]

Maybe when they make the announcements we should ask them what the objectives are. Then we can then measure success or failure by their objectives.

I see them reviewing the policy rather out-rightly removing the forex ban on Toothpick, yam and akara in an economy that is projecting locally made goods.

A lot of Ups and Down with this government.

 

[curator]

A lot of Ups and Down with this government.

Is that your way of saying 'no direction'

 

[ProfRem]

Is that your way of saying 'no direction'

In BOLD.