28 C
Lagos
Monday, September 21, 2020
Subscribe to News360 Info by Email
Home Business Buhari orders CBN to halt forex for fertiliser, food items

Buhari orders CBN to halt forex for fertiliser, food items

Nigeria’s 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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

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

- Advertisment -

Most Popular

Edo Guber Election: INEC declares Obaseki winner

The Independent National Electoral Commission(INEC) has declared Edo Governor Godwin Obaseki re-elected. Akpofure Rim-Rukeh, the returning officer for the...

Osimhen debuts for Napoli in win against Parma

Napoli’s recent addition and Nigeria international Victor Osimhen got his Serie A debut for the club in their away win against Parma...

#EdoElection2020: It’s over for Ize-Iyamu as he loses home to Godwin Obaseki

Governor Godwin Obaseki extended his wide lead on Sunday after the result of Orhionmwon Local council, Pastor Osagie Ize-Iyamu’s home council was...

#EdoElection2020: Obaseki wins at Ize Iyamu’s LG after PDP’s alarm

Governor Godwin Obaseki of Peoples Democratic Party, PDP has been declared winner of Orhiomwon Local Government as announcement of the results of...

Recent Comments