News

Buhari directs CBN to halt forex for fertiliser, food items

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

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

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

The President in a report issued by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, urged private businesses bent on food importation to source their foreign exchange independently, sayinag ”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.
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.

Chukwuani Victoria

Chukwuani Victoria is a talented writer who's passionate about storytelling and in all things entertainment, political /national news and social media trends. Victoria holds a BSC in Biology and also a certified Radio presenter with BRMC. Victoria likes to read, research, hang out with her friends and play scrabbles.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button