The Central Bank of Nigeria (CBN) has limited the number of companies involved in importation of milk, its derivatives and dairy products to six.
The companies are FrieslandCampina WAMCO Nigeria, Chi Limited, TG Arla Dairy Products Limited, Promasidor Nigeria Limited, Nestle Nigeria Plc, and Integrated Dairies Limited.
The CBN listed the companies in a circular titled: ‘Milk and Dairy Products Importation,’ dated February 11, 2020, signed by the Director, Trade and Exchange Department, Dr. Ozoemena Nnaji, which unfolded the new policy.
The new policy brought to an end the old regime under which the importation of milk was an all-comers’ affair.
The circular explained that the move was part of efforts to increase local production of milk, its derivatives and dairy products.
As part of efforts to increase local production of milk, its derivatives, and dairy products, the central bank has engaged with some companies in the industry who have keyed into the bank’s backward integration program to enhance their capacity and improved local milk production.
“Accordingly, all authorized dealers are to note that all Forms for the importation of milk and its derivatives shall only be allowed for the following companies: FrieslandCampina WAMCO Nigeria; Chi Limited; TG Arla Dairy Products Limited; Promasidor Nigeria Limited; Nestle Nigeria Plc and Integrated Dairies Limited.