The law of protectionism is relevant if one has a thing to protect. It was the military era that Nigeria started the banning syndrome which really was of neither relevance nor protecting any banned goods it was supposed to.
Ban was placed on the importation of goods, ranging from vehicles, frozen chicken, turkey, textile goods to rice, flour, vegetable oil and even the tomato puree. The reason then was to protect our local industries. Ban was also placed on foreign exchange and that was the beginning of the downward plunge of the naira which before then was sixty kobo to one US dollar.
Yet, those in the fore-front of placing ban on foreign exchange were caught with fifty-two suit
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