How CBN can boost local production of tomato paste — Manufacturers

The Tomato Union of Nigeria, (TUN), has implored the Central Bank of Nigeria, (CBN), to consider removing tomato paste triple concentrate from the forex policy restrictions or provide the raw materials to the industry.

Spokesman of the union, Mr. Nmandi Nnodebe, told reporters in Lagos  that  if local producers of tomato paste get raw materials directly from the apex bank, it would save the industry from collapse and avoid job losses.

He pointed out that it is not expected that local producers to compete with their foreign counterparts that have uninterrupted power supply, good roads and distribution network.

According to him, triple concentrate, the major material used by the local brands, has been taken away through forex policy.

He added that forex policy continues to encourage smuggling of inferior tomato paste brands through the borders.