Ezedon:
They are still making things worse

this kinda comment should be banned

That's what this government does best, ban this ban that but without provisions on ground to meet demands! Very soon, there will scarcityof tomatoes in the market! .
It's a good move though but has the government made provisions on ground to meet local demand of tomato?

That erisco man though

about tym

Another increase in price of tomatoes,, we are not doing the needful,,which way Nigeria

Hope the ban is not for ordinary importers.....some sinators rice stl dey wt custom o

MyMouth:
Erisco tomato paste is the best but very scarce in the market here in the north.

Yea i'm just hearing abt it today

Truth234:
The federal government, though the Ministry of Industry, Trade and Investment, yesterday banned the importation of tomato paste, powder or concentrate, and increased the tariff on importation of tomato concentrate among others from five to 50 per cent in order to revive the tomato sector.

According to operators, the value of imported tomato paste in Nigeria is about $170 million and $50 million spent on triple tomato concentrate.

In a document obtained yesterday from the Federal Ministry of Industry and trade and investment titled: ‘Implementation of the tomato sector policy’ which was signed by the Director, Industry Development of the ministry, Mr. Adewale Bakare, stated that such action would revive the sector, create jobs and preserve foreign exchange.

The document stated: “As you are aware, government has overtime engaged tomato industry stakeholders on ways to deepen the industry and particularly, encourage the use of locally produced tomato fruits across the value chain. It is in that regard that I am directed to bring to your notice the decision of the government towards boosting production and attracting investments into the tomato sector.

“These include ‘classification of greenhouse equipment as agricultural equipment to attract zero per cent import duty. Ban on the importation of tomato paste, powder or concentrate put up for retailing and others Ban on tomato prepared or preserved by vinegar or acetic acid and others.

“Increase in the tariff on the tomato concentrate and other concentrates (HS Code 2002.90.11.000) from five percent to 50 percent and additional levy of $1,500 per metric tons with the objective of increasing the current tariff from five percent to 50 percent (35percent +5 percent+10 percent) and an additional levy of US$1,500 metric ton. Restriction on the importation of tomato concentrates to the seaports to address abuse of ECOWAS Trade Liberalisation scheme (ETLS) and inclusion of tomato production and processing in the list of industries eligible for investment incentives administered by the Nigeria Investment Promotion Commission (NIPC).”

It further stated that “It is expected that the foregoing measures which are situated within the overall road map for the development of the industry, will create jobs, save foreign exchange and create capacity for export of tomato concentrate and paste to ECOWAS sub –region and beyond.”

http://investorsking.com/fg-bans-importation-of-packaged-tomato-paste/

Dangote at it again

Truth234:


Dangote, Erisco, etc but I hope their quality is the same with their foreign counterparts.

We must start from somewhere

Finally, Buhari does something economically positive.
More of this to get us out of recession and create employment.

asuustrike2009:
We must start from somewhere

Just like the Chinese since the 70s.

Lucy001:


Sms vote Tboss to 32052 to save Tboss

you don reach here too

They are not stopping it from entering, the have increased task on it, what it means is that the price of paste will skyrocket and Dangote and his gang will make more money. when will government come up with policy with the ordinary man at heart? Have you seen any tomato farm in Nigeria that can produce enough paste for us? Thunder wey go fire this government will come from different direction. Make I go buy tomato paste keep jaare

NubiLove:
more items like these are going to banned in subsequent months... it is inevitable.... FG is trying to reduce the demand for the dollar for importation.

Every unemployed graduate should just position themselves for the coming opportunities instead of wailing on nairaland and Facebook everyday.

jjbest123:
Hope We Have A Tomato Factory To Meet Local Demand

Right now in my house we Use SONIA TOMATO PASTE. This is made in Ogun state by SONIA Foods.
I love erisco tomapep paste but hard to come across, The last one i bought was at their stand during trade fair in TBS November last year.

maasoap:

Every unemployed graduate should just position themselves for the coming opportunities instead of wailing on nairaland and Facebook everyday.

Exactly!

maasoap:

Every unemployed graduate should just position themselves for the coming opportunities instead of wailing on nairaland and Facebook everyday.

Its only ipod yoot from indo-fuckin-nesia republic of ugandan and PDP losers that wail. They are yet to recover from the election loss

godunia:
They are not stopping it from entering, the have increased task on it, what it means is that the price of paste will skyrocket and Dangote and his gang will make more money. when will government come up with policy with the ordinary man at heart? Have you seen any tomato farm in Nigeria that can produce enough paste for us? Thunder wey go fire this government will come from different direction. Make I go buy tomato paste keep jaare

We always produce surplus of tomatoes in Nigeria during season, the problem has always been the facilities to store them... now tomato paste companies can use the excess and extend the shelf life of Nigerian tomatoes

seguno2:


Just like the Chinese since the 70s.

Yea

Truth234:


Dangote, Erisco, etc but I hope their quality is the same with their foreign counterparts.

Erisco has finally gotten what he has been fighting for all this while , I hope he lives up to the billing.

jjbest123:
Hope We Have A Tomato Factory To Meet Local Demand

That is always the problem of Nigeria. We make policies without thinking deeply of the shortcoming.
Those producing locally can't satisfy the demands of the entire populace and we all know what law of demand says. I tell you, people will still find a way to pay the tariff and then transfer the exorbitant prices on final consumers. This will further compound the already worsening condition of average Nigerians. God should just plsssssss have mercy on us and bring back our leaders' sanity because our leaders have gone..... It is well.

benuejosh:
Hope Erisco has relocated to China like he said? let's see how he's going to sell his tomato paste in Nigeria.

Erisco is still in Nigeria . He hasn't fully offloaded his process plant

dukeolumde:
Another opportunity for Dangote to become richer...

the poor always pass over opportunities to the rich.

As usual another OK policy that wouldn't work due to the lack of infrastructure...Let me just predict the outcome of this policy below

1. There will a 100 percent rise in the cost of imported tomato paste

2.Foriegn paste importation will not decrease significantly only the cost of the product will increase

3. There will be over demand initially for Dangote and Erisco paste leading to rise in the cost of locally made paste .

4 . Rise in demand of local paste will require the local tomato paste industry to scale which will lead an over demand for raw tomatoes thereby creating a scarcity for fresh Tomatoes across Nigeria

5 .As fresh tomatoes gets scarce the price become more expensive in local market which will the mean people will dump fresh tomatoes and make do with tomato paste .

6 . As more people can no longer afford fresh tomatoes opt for tomato paste Dangote and Erisco will not be able scale production as fast as is needed thereby leading to an increase in demand for foriegn tomato paste .

7. At the end of the the day there won't be significant reduction in imported paste but just a rise in the prices of local tomato paste, foriegn tomato paste and fresh tomatoes .

InvestinOwerri:
After frustrating erisco out of Nigeria, they are now baning its importation in order to give dangote monopoly over another important sector! They should continue!!

Erisco is the only major manufacturer not repute on ground in Nigeria now and he has been fighting to have tomato paste import banned for a while now.

Dangote is yet to get his factory up to speed

NubiLove:
more items like these are going to banned in subsequent months... it is inevitable.... FG is trying to reduce the demand for the dollar for importation.

They are stupid.

If they really want to reduce the demand for dollar, why not deregulate the downstream sector of the petroleum industry, privatise the refineries and kickstart this their modular refinery plan. In fact if they really wanted to reduce the dollar demand, this administration would've done this eons ago (on 30 - 5 - 2015).

Even a toddler knows that petroleum products are the main things that places a major demand on our forex reserves.

This is just to appease a few powerful men

maxiuc:
APC always making things hard for people nd you tell me thunder wouldn't roast this people





Oh my lovely PDP what really went wrong

if I curse u eh

asuustrike2009:

We must start from somewhere

Of course but not when people have died from food poison. Quality Assurance bro

All because of Erisco abi. I regretted the day I bought his tomatoes paste. something is surely wrong with this my Buhari.

This is long overdue. My only fear is that prices of tomato paste will go up in the short term.