In support of Nigeria’s protectionist measures


A man checks a mobiles phones in a busy market in Ikeja, Lagos, 17 February 2015. Nigeria is africa's most populous nation, and the continent's fastest growing economy.

In support of Nigeria’s protectionist measures

The Central Bank of Nigeria (CBN) is facing mounting criticism from abroad for its decision to address the economic crisis with protectionist measures. The bank recently banned imports of 40 products from accessing the foreign exchange market.

In defence, the CBN claimed this measure will help to “resuscitate local manufacturing” and change the structure of the economy.

While critics argue that using import restrictions to protect domestic industries ultimately breach Nigeria’s internation...

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