The Federal Government is said to be considering placing a ban on the importation of milk into the country.
The Central Bank Governor, Mr Godwin Emefiele, who disclosed this to the media in Abuja on Tuesday following the Monetary Policy Committee (MPC) meeting, said the Federal Government would soon put restrictions on the importation of milk to the country.
The CBN Governor disclosed that the importation of milk gulps up between $1.2bn and $1.5bn annually, adding that it was unacceptable.
Coca-Cola on Tuesday reported a 6% revenue growth to $10bn for the second quarter of 2019, driven by consumer-centric innovation, solid core brand performance and improved execution in the marketplace.
The company said it continued to gain global value share, which led to an update of its full year guidance for 2019 to 5% organic revenue growth.
Commenting on the results, the CEO of The Coca-Cola Company, James Quincey, said: “Our strategy to transform as a total beverage company has allowed us to continue to win in a growing and vibrant industry.
