Don’t provide foreign exchange for food importation – Buhari orders CBN

President Buhari issued a new directive to the Central Bank of Nigeria (CBN) while hosting the All Progressives Congress (APC) governors to an Eid-el-Kabir lunch at his country home in Daura, Katsina state. 

Buhari directed the Central Bank of Nigeria (CBN) to stop providing foreign exchange for importation of food into the country following the steady improvement in agricultural production and attainment of full food security.

The President said the foreign reserve will be conserved and utilized strictly for diversification of the economy, and not for encouraging more dependence on foreign food import bills. The statement released by President Buhari’s media aide, Garba Shehu reads in part; 

FOOD SUFFICIENCY: NO CENT SHOULD GO INTO FOOD IMPORT, PRESIDENT BUHARI DIRECTS CBN

President Muhammadu Buhari Tuesday in Daura, Katsina State, disclosed that 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.

The President, who hosted All Progressives Congress (APC) governors to Eid-el-Kabir lunch at his country home in Daura, said the foreign reserve will be conserved and utilized strictly for diversification of the economy, and not for encouraging more dependence on foreign food import bills.

“Don’t give a cent to anybody to import food into the country,’’ he said.

President noted that some states like Kebbi, Ogun, Lagos, Jigawa, Ebonyi and Kano had already taken advantage of the Federal Government’s policy on agriculture with huge returns in rice farming, urging 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.

President 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.

President Buhari said the incoming ministers will be “taught’’ and thoroughly guided to ensure they meet the targets of the APC-led government for the people, with regular monitoring of their performances and scaling up of targets by the Office of the Secretary to the Government of the Federation (OSGF).

The President assured that he will attend the Presidential Policy Retreat organized for the ministers by the OSFG, and insisted on compliance with laid down targets on key sectors of the economy that will directly impact on the livelihood of Nigerians.