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“Don’t Release Any Money For Food, Fertiliser Importation” – President Buhari Orders CBN

Buhari ordered CBN ”not to issue a kobo” for the importation of food items and fertilizer.

President Muhammadu Buhari on Thursday ordered the Central Bank of Nigeria (CBN) to withhold issuance of foreign exchange for food and fertiliser importations.

"Don’t Release Any Money For Food, Fertiliser Importation" - President Buhari Orders CBN 1

A statement issued by the Special Assistant to the President on Media, Garba Shehu, said Buhari gave the order on Thursday to CBN Governor Godwin Emiefile during the meeting of the National Food Security Council (NFSC) in Abuja.

According to the statement, Buhari restated his earlier verbal directive to the apex bank, saying he would pass it down in writing that ”nobody importing food should be given money.”

The Federal Government had rolled out the Economic Sustainability Plan (ESP), the core of which is self-sustainability and massive job creation through agriculture.

Emphasising the needs to boost local agriculture, the President 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.”

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Buhari 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 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.

”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,” Buhari said.

The meeting, chaired by President Buhari with other key members of the Council in attendance, was briefed on the food security situation prevailing in the country.

KanyiDaily recalls that President Buhari had expressed concern over the sudden rise of food prices, and asked food marketers and vendors to stop exploiting Nigerians.

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