President Buhari restated no foreign exchange on importation of food and fertilizer

The president of the Federal Republic of Nigeria, Gen. Mohammadu Buhari, Rtd, has restated his stand that the Central Bank of Nigeria (CBN) should no apport foreign exchange for those importing food and fertilizer.

President Buhari in his tweet earlier on Friday reiterate his ban on importation of food and fertilizer, stating that there are able bodied youth in Nigeria ready to venture into agriculture.

The president tweeted;

His statement reads; “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.”

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“We have a lot of able-bodied young people willing to work, and agriculture is the answer.” He concluded.

This statement could be traced to the information released by the Nigeria Customs Service (NCS) that 4 companies received an emergency approval from the CBN to import 262,000 tons of maize into the country.

The approval may be due to maize scarcity which is taking a toll on the poultry sector of the country after the CBN banned the processing of Forms for maize/corn importation into the country.

Recall President Mohammadu Buhari had placed a ban on importation of food since August 2019 which is over a year now, restating his stand on the ban serves as a reminder that local production of food is the only hope for Nigerians.

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