CBN Forex Restriction On Milk Is To Punish Nigerians For Rejecting RUGA, Oby Ezekwesili

Oby Ezekwesili has reacted to CBN’s plan to place forex restriction on the importation of milk, and according to her, it is punishment to Nigerians for rejecting the proposed RUGA settlement. 

Recall that CBN Governor, Godwin Emefiele, while addressing newsmen at the end of the bi-monthly Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, said between $1.2 billion and $1.5 billion is spent yearly to import milk into the country. He further pleaded with milk importers to help the FG reduce the rate of farmers-herders conflict. 

However reacting to this, Oby Ezekwesili alleged that the proposed ban was borne out vindictiveness. The former Minister of Education pointed out that Nigeria has the highest number of children less than 5 years with chronic malnutrition in sub-Saharan Africa, and she added that a milk importation ban is dangerous for the poor. 

She tweeted; 

“Nothing more perverse of Political Leaders and Policy Makers as Policies borne out of Vindictiveness.

”It appears from what the CBN said on the MilkBanPolicy that it is a case of “You folks rejected RUGA, here is your punishment.” What a BIG SHAME that would be.

“Often I read or hear Nigerians say: “We have good policies/laws. Our problem is lack of implementation”.

“How wrong they are! The bane of our failure to achieve sustained economic growth that reduced Poverty in other countries is actually, BAD…..dangerous Policies/Laws.

“Milk consumption by Nigerians: 1.7 Million milk production in Nigeria: 600,000 tonnes.

”When MilkBan Policy happens, to avoid Scarcity which Prices Milk up and out of the reach of the Poor, Nigeria needs to immediately triple current production of milk.

“Nigeria has the highest number of children less than 5 years with chronic malnutrition (stunting or low height-for-age) in sub-Saharan Africa at more than 11.7 million, according to the most recent Demographic and Health Survey (DHS) (National Population Commission)”

“Child Poverty is even worst in a country that holds the ignoble record of being the World’s Capital of Extremely Poor People; our President should be fleeing from Policies that escalate Poverty.

“The CBN’s MilkBan Policy is dangerous. Dangerous for the Poor."