CBN To Suspend Forex For Food Items And Fertiliser As Directed By Buhari

Central Bank of Nigeria (CBN) Has been directed by the president, Muhammad Buhari not to provide forex for the importation of food items or fertilizer.
Speaking at a meeting of the National Food Security Council on at Thursday at the State House in Abuja, the president urged 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,” 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.”

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