Nigeria social media space is presently abuzz following an old report on the investment plan of the Dangote Group which was dug up by some social media users on Sunday.
The report, which was about Dangote’s plan to begin milk production in 2019, was dug up following plans by the Central Bank of Nigeria (CBN) to restrict foreign exchange on milk importation in order to stop its importation into the country.
CBN Governor Godwin Emefiele had on July 23 at the end of the Monetary Policy Committee (MPC) meeting in Abuja, announced a planned policy restricting allocation of foreign exchange for milk importation into Nigeria.
The proposed policy had sparked criticism from many Nigerians who believe the CBN is trying to kill businesses with the plan.
The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) had also cautioned the CBN on the proposed policy to restrict foreign exchange allocation for milk importation.
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In 2017, the Dangote Group owned by Africa’s richest man Alhaji Aliko Dangote had announced plans to diversify investment by popping $800 million into dairy farm to breed 50,000 cows and produce 500 million litres of milk a year by 2019.
The report which was reshared on micro-blogging site Twitter on Sunday sparked outrage among social media users.
Many Nigerians were of the notion that the CBN’s policy is an attempt to pave the way for the success of Dangote’s milk production business which is expected to begin full operation this year according to the report.
Some social media users also alleged that it has become a common practice for the Nigerian government to frustrate other business owners with strict policies whenever Dangote wants to start a new business venture.
See some of the reactions:
#Nigeria government has made Dangote to look as if he is the only businessman that know how to do business, also with the best ideas in the country.
Govt / CBN are planning to ban milk, same week Dangote deviates into diary farming. That’s not a coincidence.#KenyanVsNigeria pic.twitter.com/9vmtBrzOfR
— Ayemojuba ??? (@ayemojubar) July 28, 2019
If Dangote starts manufacturing cars today, there will be a “revolution” in the local car manufacturing industry.
Just kidding. The Nigerian Government will just ban car importation, Dangote won’t pay tax, he’d get interest-free loan from CBN. Arewa stays winning
— Kelvin Odanz (@MrOdanz) July 28, 2019
Wrote this in July last year when it was just a warning shot. Now it’s become an actual poorlicy by the CBN https://t.co/pgCM9PZcYe
— tyro (@DoubleEph) July 28, 2019
The problem is that government wants to kill every other milk production company in Nigeria by stifling them of forex, because Dangote is going into the milk business. That is not good for competition in businesses. Do you understand it now?
— AGUJIEGBE 1 (@krismighty) July 28, 2019
Safe to say that the Nigerian Government made Dangote the Billionaire he is today, at the detriment of the country of course.
— Kelvin Odanz (@MrOdanz) July 28, 2019
Don’t get distracted.
The CBN forex ban on milk imports is a disastrous policy – with or without suggestions that our Dangote is poised to profit from yet another government-enforced monopoly.
— Ose Anenih (@Papadonkee) July 28, 2019
Inside Nigeria Dangote got Nigeria to core……i think we should change the name to federal republic of dangote…..funny thing is he will use interest free loan from CBN pic.twitter.com/bMbjjIb0wv
— That Edo Girl (@ThatEdoGirl2) July 28, 2019
Anytime Dangote wants to delve into any business in Nigeria, the Federal Govt announces a restrictive policy that makes it extremely difficult for other Nigerians in that line of business to operate as they should.
They did it with cement, flour and even tomato paste.— The Papi (@tawah89) July 28, 2019
I said I would stop political tweets but I can’t take this anymore. Stop this ethnic blackmail against Dangote who’s about the biggest employer of labour in Nigeria. Our country is poor from excess imports,and we are unhappy about folks creating jobs back home. This is envy……
— ᴏᴍᴀsᴏʀᴏ ᴀʟɪ ᴏᴠɪᴇ™☤2 (@OmasoroO) July 28, 2019
