Nigeria’s tomato industry may cease to exist this year if the Central Bank of Nigeria (CBN) does not amend its policy on foreign exchange to exclude triple concentrate tomato paste from the scope of the 41 items under the restricted list, the Union of Tomato Paste Manufacturers in Nigeria, has said
Spokesman of the association, Mr. Nnamdi Nnodebe, who spoke to newsmen in Lagos yesterday, also said total investment in the packing manufacturing sector of tomato paste valued at N19 billion would also vanish this year unless government removed the triple concentrate tomato paste from the banned items.
He said, “While trying to heal the economy, the pillars that hold the economy together are being removed. Pillars such as the tomato industry are invaluable to growing a vibrant economy.
“The total investment in the packing manufacturing sector of tomato paste is about N19 billion.
“The economy cannot afford to lose such a huge industry that provides millions of direct and indirect jobs for Nigerians. The fact is that this industry that grew to be the 13th largest in the world and 2nd largest in Africa might die before the second quarter of the year if the ban on forex is not lifted.”
