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EU protest: Nigeria should retain dairy ban – Agbakoba opposes Okonjo-Iweala

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Olisa Agbakoba, a Senior Advocate of Nigeria (SAN), has declared opposition to Ngozi Okonjo-Iweala’s advice to Nigeria after the complaint by the European Union (EU).

The Director-General of the World Trade Organization (WTO) at a meeting with Godwin Emefiele, the Central Bank Governor, disclosed that the EU reported Nigeria’s restriction on dairy products to the WTO.

Okonjo-Iweala advised Nigeria to utilize the organization’s trade remedies which help to protect local industries without resulting to import restrictions

In his reaction, Agbakoba noted that the former Finance Minister’s suggestion for continued importation “is not correct policy advise at this time”.

Noting that Okonjo-Iweala seems to promote liberal and open borders, he said Nigeria may remain consumers of imported products, slow down on production while over 25 million remain unemployed.

The former President of the Nigerian Bar Association (NBA) added that even with import-local production policy, industries must be promoted to ensure economic boost.

“I hesitate to compliment Trump’s America First trade policy but Trump understood the need to protect the US by discouraging over-dependence on imports”, his statement read.

“Nigeria produces crude but imports petrol. We produce cocoa but import cocoa powder. We have Tin, Gold and Iron but import the finished products In billions!”

Agbakoba pointed out that the country made N12 billion daily internally during the border closure which made local rice production increase tremendously.

“We are growing tomato, corn, beans, etc because we are discouraging imports. I propose we adopt a new trade policy with strong trade laws. Nigeria will be transformed by a Made in Nigeria Trade Policy”, he noted.

EU protest: Nigeria should retain dairy ban – Agbakoba opposes Okonjo-Iweala

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