Stop Providing Foreign Exchange For Food Import, Buhari Directs CBN

Stop Providing Foreign Exchange For Food Import Buhari Directs CBN

Stop Providing Foreign Exchange For Food Import Buhari Directs CBN

President Buhari said he asked the CBN to stop providing forex for importation of food into the country.

The president said the foreign reserve will be used strictly for diversification of the economy and not for encouraging more dependence on foreign food.

Buhari, therefore, urged state governors to key into the federal government’s agricultural policy to provide full food security.

President Muhammadu Buhari says he has directed the Central Bank of Nigeria (CBN) to stop providing foreign exchange for importation of food into the country, with the “steady improvement in agricultural production, and attainment of full food security”.

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Malam Garba Shehu, the president’s spokesman in a statement, said Buhari stated this when he hosted All Progressives Congress (APC) governors to Eid-el-Kabir lunch at his country home in Daura, Katsina state on Tuesday, August 13.

According to the president, the foreign reserve will be used strictly for diversification of the economy and not for encouraging more dependence on foreign food.

“Don’t give a cent to anybody to import food into the country,’’ he said. The president noted that some states like Kebbi, Ogun, Lagos, Jigawa, Ebonyi and Kano had taken advantage of the federal government’s policy on agriculture with huge returns in rice farming.

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He, therefore, urged more states to plug into the ongoing revolution to feed the nation. “We have achieved food security, and for physical security we are not doing badly,’’ he said.

Buhari said he was particularly delighted that young Nigerians, including graduates, had started exploring agric-business and entrepreneurship, with many posting testimonies of good returns on their investments.

He said the incoming ministers would be guided to meet the targets of the APC-led government for the people.

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