OCTOBER 17, 2023
Breaking News: Nigeria lifts ban on import of 13 key F&B products!
Food and Beverage West Africa, the premier global exhibition in the food and beverage industry, welcomes and applauds the recent decision by the Central Bank of Nigeria (CBN) to lift foreign exchange restrictions on a number of food and beverage items. This monumental policy shift has captured the attention of global exhibitors participating in our esteemed event.
The CBN's decision is poised to infuse much-needed liquidity into the Nigerian Food and Beverage Exchange Market, offering a wealth of opportunities for global exhibitors to expand their presence and establish trade partnerships within the Nigerian food and beverage sector.
Furthermore, the CBN has pledged to intervene in the market as necessary, with interventions gradually decreasing as liquidity improves. This commitment aligns with the interests of exhibitors at Food and Beverage West Africa, who seek a stable and conducive market environment for their business endeavors.
Here is the comprehensive list of food and beverage items affected:
-Vegetables and processed vegetable products
-Cellophane, wrappers, and bags
For all the exhibitors joining us at Food and Beverage West Africa, this CBN policy shift is like a golden ticket to more exciting connections and trade partnerships in Nigeria's food and beverage scene. It's a big move towards making a wider range of food and drinks available in the country. This is a game-changer not just for our event but for the entire global food and beverage exhibition community.
Source: The Punch Nigeria