Business

FG restricts paracetamol ,16 other products for local manufacturing

The cocoa industry is also shielded; cocoa butter, powder, and cakes, as well as chocolate preparations in blocks or bars exceeding two kilograms, are listed as prohibited items.

Published

3 months ago

April 18, 2026

OCHEFA

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• President Bola Tinubu

The Federal Government has totally banned the importation of seventeen products including paracetamol tablets and syrups, metronidazole, cotrimoxazole, and chloroquine from entering into the country through any port of entry.

The Federal Ministry of Finance on Saturday released the latest revised import prohibition list, dated April 1, 2026, under HS Codes 3003.10.00.00 through 3004.90.90.00

Other widely used health products, such as multivitamin capsules, aspirin, folic acid, and various ointments like penicillin and gentamycin, are now restricted to local manufacturers.

Furthermore, refined vegetable oils in retail packs of five litres or less, encompassing soya-bean, palm, and sunflower oils, are prohibited.

However, crude vegetable oil and specific fats like hydrogenated vegetable fats under HS 1516.20.10.00 are permitted to enter the country for industrial use.

In the retail and consumer goods category, the prohibition covers cane or beet sugar in retail packs and chemically pure sucrose containing added flavouring or colouring.

The cocoa industry is also shielded; cocoa butter, powder, and cakes, as well as chocolate preparations in blocks or bars exceeding two kilograms, are listed as prohibited items.

Other household essentials now restricted to local production include tomato paste, whole tomatoes put up for retail sale, and mineral and aerated waters.

The hygiene sector is notably impacted, as all forms of soaps and organic surface-active products (commonly known as detergents) are now barred from importation under HS Codes 3401.11.10.00 through 3402.90.00.00 when intended for retail sale.

Even everyday stationery is affected, as ballpoint pens and their refills are barred from importation, though the government made a specific concession for importing pen tips. Industrial and construction materials were not left out of the revised trade policy.

Bagged cement remains on the prohibited list under HS Code 2523.29.00.00, alongside NPK 15:15:15 fertilizers and similar variants.

The packaging industry faces a continued ban on corrugated paper, paper boards, and cartons, while the glass industry is protected by a prohibition on hollow glass bottles exceeding 150 milliliters in capacity.

Related Topics:Featured Federal Ministry of Finance Import prohibition list

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Naira Exchange Rates Thursday, 22 July

Published

8 hours ago

July 23, 2026

OCHEFA

23 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1,405 Sell ₦1,410

GREAT BRITISH POUND (GBP) Buy ₦1,880 Sell: ₦1,900

EURO (EUR) Buy ₦1,580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,369.63

GREAT BRITISH POUND (GBP) ₦1,833.12

EURO (EUR) ₦1,563.03

SWISS FRANC (CHF) ₦1,685.08

JAPANESE YEN (JPN) ₦8.40

CHINESE YUAN (CNY) ₦202.21

WEST AFRICAN CFA (XOF) ₦2. 39

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867.90

SAUDI RIYAL (SAR) ₦366.36

SOUTH AFRICAN RAND (ZAR) ₦83.40

Business

President Tinubu Tasks Judicial Officers To Remain Abreast of Evolving Global Maritime Laws

President Tinubu made the call in Abuja during the 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council (NSC), under the auspices of the Federal Ministry of Marine and Blue Economy, in collaboration with the National Judicial Institute (NJI).

Published

1 day ago

July 22, 2026

OCHEFA

30 Views

President Bola Tinubu on Wednesday urged judges to continually update their knowledge on autonomous vessels, digital shipping, artificial intelligence-driven maritime operations, maritime security and evolving international environmental regulations.

Represented by the Minister of Marine and Blue Economy, Adegboyega Oyetola, President Tinubu lauded the Nigerian Shippers’ Council for initiating and sustaining the international seminar for judges.

He described it as one of Nigeria’s foremost platforms for strengthening maritime jurisprudence, enhancing judicial capacity and promoting excellence in maritime justice.

According to Oyetola , rapid technological advancement is creating unprecedented legal questions relating to liability, navigational responsibility, insurance, collision regulations and allocation of responsibility when autonomous vessels malfunction.

He emphasised that the courts will increasingly adjudicate disputes involving decarbonisation, environmental compliance, blockchain-enabled cargo documentation, electronic bills of lading and other evolving international maritime legal frameworks.

“The emergence of autonomous vessels demands a judiciary equipped to resolve complex legal questions involving liability, insurance, navigation and technological accountability.

“Judicial officers must remain abreast of evolving international maritime law to ensure justice keeps pace with technological innovation,” he said.