Buhari directs CBN to halt forex for fertiliser, food items

Buhari directs CBN to halt forex for fertiliser, food items
September 11 05:06 2020 Print This Article

Buhari directs CBN to halt forex for fertiliser, food items

Nigeria News | Laila’s Blog
Buhari directs CBN to halt forex for fertiliser, food items

President Buhari has directed the Central Bank of Nigeria (CBN) to stop providing forex for the importation of food items or fertilizer.

Buhari asks CBN to halt forex for fertiliser, food items

Speaking on Thursday at a meeting of the National Food Security Council at the State House in Abuja, the president urged private businesses bent on food importation to source their foreign exchange independently.

Advertisement

He also directed that blenders of fertilizer should convey products directly to State governments so as to skip the cartel of transporters undermining the efforts to successfully deliver the products to users at reasonable costs.

The President in a statement issued by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, advised private businesses bent on food importation to source their foreign exchange independently, saying ”use your money to compete with our farmers”, instead of using foreign reserves to bring in compromised food items to divest the efforts of our farmers.

Advertisement

President Buhari wrote on Twitter;

“I am restating it that nobody importing food or fertilizer should be given foreign exchange from the Central Bank. We will not pay a kobo of our foreign reserves to import food or fertilizer. We will instead empower local farmers and producers.
We have a lot of able-bodied young people willing to work, and agriculture is the answer.”

Buhari directs CBN to halt forex for fertiliser, food items
Tolulope Ayeni

Need more information? Go to Source

Author: Tolulope Ayeni

  Article "tagged" as:
  Categories: