Few days after Erisco Foods Limited threatened to shut down its tomato factory, Dangote Industries Limited yesterday disclosed plans to stop tomato paste production because of the harsh operating environment that gives advantage to imported production.
Group Vice President of Dangote Industries Limited, Alhaji Sani Dangote disclosed that the group recently stopped tomato paste production because of the harsh operating environment that gives advantage to imported products.
He also said the company would not be able to pay farmers from whom they get the raw materials unless government did something urgently.
Although, the Central Bank of Nigeria (CBN) said it would not give dollars, Dangote noted that countries like China give their people huge support and waivers that allow them access to finance that they do not really feel the forex crunch being faced by their Nigerian competitors.
