In a bid to curb the demand for foreign exchange on the importation of hygiene products into Nigeria, theCentral Bank of Nigeria plans to include hand sanitizers amongst commodities that are not eligible for foreign exchange from its official forex window. In Emifele’s response, buyers pay with Naira (the official currency of Nigeria) when purchasing the hygiene products in various retail stores, so, therefore, it is not justifiable to use dollars in acquiring the items from China. Considering the fact that Nigerian pharmaceutical companies are capable of producing quality hand sanitizers and other hygiene products, regardless of the setbacks in the manufacturing sector.
SOURCE: VENTURES AFRICA
More Stories
Making LPG Accessible To Underserved Communities Is One Of The Ways To Tackle South Africa’s Energy Crisis
The Art Of A Total Reward Strategy In The War For Talent
Stay Ahead Of The Game: How AI Can Help SMB Retailers Compete
HEALA Urges SA Public To Comment On Draft Food Labelling Regulations
Envision Racing And Cartoon Network EMEA Join Forces To Help Kids Become Climate Champions
Impala Rustenburg Hands Over Four SLP Projects Valued At Over R53 Million
Digital Commerce & Regulation | SA Perspective
Person-Centricity At The Heart Of The 22nd Annual Board Of Healthcare Funders 2023 Conference
Why Are Township Economies Important?
South Africa Needs Agile And Adaptable Business Leadership And Strategies
Africa Investment Forum Showcases $1.475 Billion In Green And Renewable Energy Deals
AWIEF Joins Forces With European And African Partners To Launch WITH Project