2021-07-16 | TED/FEM/PUB/FPC/01/006

Sugar Importation in Nigeria

The Central Bank of Nigeria's Trade and Exchange Department has released a circular regarding sugar importation in the country. Only three companies, Bua Sugar Refinery Limited, Dangote Sugar Refinery Pic, and Golden Sugar Company, are permitted to import sugar into Nigeria due to their progress in the Backward Integration Program for local sugar production. Authorized dealers are instructed not to open Forms M or provide foreign exchange for sugar imports without the express approval of the Central Bank of Nigeria, which is responsible for monitoring the companies' backward integration programs.

Nigeria

Central Bank of Nigeria

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