AreaNigeria

Commodity GroupRice

CommodityAll

Date12/10/2023

Policy CategoryTrade

Policy InstrumentImport restrictions

DescriptionLifted restrictions that prohibited importers of 43 commodities, including rice, from purchasing foreign exchange on the Nigerian Foreign Exchange Market. In the case of rice and 40 other items, these restrictions had been in place since June 2015, with the aim of generating local employment and reducing demand for foreign exchange for items that could be locally produced.