Again, Buhari asks CBN to halt forex for fertiliser, food items - Uju Ayalogu's Blog for News, Reviews, Articles and More

Breaking News

Post Top Ad

Thursday, 10 September 2020

Again, Buhari asks CBN to halt forex for fertiliser, food items

Again, Buhari asks CBN to halt forex for fertiliser, food items

President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) not to provide forex for the importation of food items or fertilizer.

The president was speaking on Thursday at a meeting of the National Food Security Council at the State House in Abuja.

This is the second time the president will make such a statement, the first being in August 2019.

Buhari 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”.

READ ALSO:   Kaduna assembly approves castration as punishment for rapists

“We have a lot of able-bodied young people willing to work and agriculture is the answer. We have a lot to do to support our farmers,” a statement by Garba Shehu, a presidential spokesman, quoted Buhari to have said.

“From only three operating in the country, we have 33 fertilizer blending plants now working. We will not pay a kobo of our foreign reserves to import fertilizer. We will empower local producers.”

The president also directed that blenders of fertilizer should deliver 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.

READ ALSO:   Malami: UK court ordered P&ID to pay £1.5m costs to Nigeria

Policies by the CBN and Muhammadu Buhari-led administration have been targeted at reducing importation and ramping up local production capacity.

At present, the CBN has a list of items that are ineligible for forex.

Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music and Submit your story on Ujuayalogusblog.com by clicking here. For Advert Inquiries Tel/+44(0)7590363984

For More:   Subscribe to Ujuayalogusblog.com


Subscribe to Our Posts via Email


Share This

No comments:

Post a comment

Listen to This Beautiful New Talent - Winter Wolf - Singing "What a Waste"


Post Bottom Ad

Pages