Amid the current coronavirus outbreak, hand sanitizers have become a very sought-after product in all markets and the federal government of Nigeria announced plans to ban their importation to bolster the local production. The announcement was made on March 11 by Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN).
After the country confirmed the first covid-19 case in sub-Saharan Africa, there was a strong demand for hand products suggested by the World Health Organization to help prevent the spread of the virus. The government has thus seen in this scenario the opportunity to support “made in Nigeria” products. “It is naira that we will pay to buy sanitizers, rather than using dollars to import sanitizers from China,” Godwin Emefiele said during a business conference in Abuja. “And I’m sure, as you all expect, that very soon, sanitizers will get into the list of items that are banned,” he added.
The measure is part of the government’s strategy to protect the local market, part of which authorities have restricted access to foreign exchanges and have banned the importation of many necessities such as soap, milk, and rice. Nigeria wants to rationalize the use of foreign exchanges, at a time when the price of oil, its main export, is falling.
Moutiou Adjibi Nourou
Wave launches Wave Bank Africa in Côte d'Ivoire with $32M capital Move follows €117M fu...
Sonatel is a major telecom company in West Africa that investors trust, offering steady growth and...
Cameroon's Constitutional Council declared Paul Biya the winner of the presidential election, secu...
Safaricom's M-Pesa integrated with Ethiopia's national payment network, EthSwitch, on October 27. ...
ECCBC invests $77.6M to expand Morocco plant, boosting output by 40% New lines produce soft ...
Annual consumer-price inflation slowed to 11.9 % in October, the weakest reading since April, as food and non-food costs both eased. Food...
Mali’s BNDA secures $40M IFC loan to boost SME agricultural lending. Funds target farmers, women-led businesses, and climate-smart agribusiness...
Donors pledge over €1.5B in aid for Africa’s Great Lakes region Funds to support food, medicine, and livelihood recovery in conflict-hit...
Morocco and The Gambia sign defense cooperation MoU during official Rabat visit Agreement includes training, joint exercises, and a rotating military...
Grand Egyptian Museum opens 1 Nov 2025 near Giza, showcasing 100k artefacts including full Tutankhamun collection. Triangular glass façade mirrors...
UBA to host final “Business Series 2025” on content-driven growth, Nov. 6 Event targets SMEs, creators with strategies for influence and brand...