Eight years after placing restrictions on 43 selected items to reduce pressure on the demand for dollars for importation and encourage local production of the affected items, the Central Bank of Nigeria has decided to lift the restrictions. This has led to mixed views among experts who gave their opinions on the effect this announcement would have on food security in the country.
Razaq Fatai, Research and Advisory lead at Vestance joined other experts to analyze the decision and implication on Food Security. He warned that there is a risk of increasing agricultural input costs if naira depreciates further at the official channel due to increased FX demand. Click here to read the full report.
