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You see this milk FX ban that @DoubleEph wrote about? The sincerity of the @cenbank & indeed the FG must be called into question.
CBN cites undue FX spending in milk & job creation as their reason & in 2018 we spent $300MILLION importing milk. So, Here’s some irrefutable data:
CBN cites undue FX spending in milk & job creation as their reason & in 2018 we spent $300MILLION importing milk. So, Here’s some irrefutable data:
1. I went through some data for VEGETABLE imports. By vegetables, I mean potatoes, peas, roses, lettuce, garlic, sweet corn, carrots etc etc and in 2018, we spent $1.5billion (5X what we spend on milk) on those. Remember, we spent $300m on milk.
2. Same year that we spent $300million on milk that’s causing a ruckus, we spent $1billion, more than 3X what we spend on milk, on paper and photography related products. I know we all want photos to prove we can baby boy like @DrJoeAbah, but not at the expense of babies 😊
3. How about textiles that’s a protected local industry and is actually on the CBNs 41-item ban list (unless it’s been lifted and we are unaware).
Anyways, we spent $470million importing those but it’s milk’s $300m that’s causing us unemployment.
Anyways, we spent $470million importing those but it’s milk’s $300m that’s causing us unemployment.
4. Tobacco and spirits came it about $150million, yes it’s half of milk but can we straight-facedly compare? We want to save forex and we had to choose between restricting nutritious milk or health destroying tobacco/alcohol, and our @cenbank chose milk.
5. I’m still looking through the numbers and I’ve obviously left off all the petroleum imports, machinery and raw materials that are obviously (hopefully) used for manufacturing and job creation.
The sincerity and logic of CBN has to be thoroughly questioned.
The sincerity and logic of CBN has to be thoroughly questioned.
6. I’ll keep saying that @nigerianstat and @sgyemikale are doing an absolutely amazing job at ensuring that dispassionate data is available on their website for us to draw our own conclusions
7. I forgot to add that by the exact description, by value, about 70% of the imported milk is classified as “specially made for infants”.
So, unless there’s something we are all missing, it is abundantly clear that whatever we do is specifically damaging to infants!!!
So, unless there’s something we are all missing, it is abundantly clear that whatever we do is specifically damaging to infants!!!
