FG policy frustrating local production of tomato paste – Dangote

The Vice President of Dangote Group, Alhaji Sani Dangote has said that the local production of tomatoes concentrate will be near impossible owing to the lack of implementation of government policy against importation.

Dangote who spoke on the sidelines of the just concluded 2nd meeting on Nigeria Zero Hunger 2030 Strategic Review, organized by the International Institute of Tropical Agriculture (IITA) in Abuja said despite the central bank's move of not allocating dollars to importers, countries like China have dropped the price in the sale of its tomatoes concentrate by half thereby allowing for importers who want to buy through the parallel market buy from them.

"Yes CBN is implementing what it has put in place, not allocating dollar but like I told you. Even at the current rate of N450 to N470 to the dollar, it is viable to import from China at 100 dollars while you can sell it almost 2000 dollars equivalent in Naira.

"When they compare that they can buy dollar at 450 to 500 and Chinese have agreed to lower their price, to meet up their demand and sell to Nigeria, then the will rather go there and bring it.

"Some companies have opened factories in Ghana, in the free zone under the disguise of ECOWAS and bring retail packs directly into d country", he explained.

He lamented that the absence of a clear cut policy on the way forward will continue to affect Nigerian farmers who produce tomatoes.