Buhari Orders CBN To Cease Issuance Of FX For Food

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President MuhammaduBuhari on 13th August 2019 while hosting Governors of the All Progressives Congress  (APC) in his country home, DauraKastina State said he has directed the Central Bank of Nigeria (CBN) to stop providing Foreign Exchange (Fxfor the importation of food into the country. 

The president said with the steady improvement in agricultural production, and attainment of full food security, there was no need for importation. He said the foreign reserves will be conserved and utilized strictly for diversification of the economy, and not for encouraging more dependence on foreign food import bills. “We have achieved food security, and for physical security, we are not doing badly. Don’t give a cent to anybody to import food into the country. “Some states like KebbiOgun, Lagos, JigawaEbonyi and Kano have already taken advantage of the Federal Government’s policy on agriculture with huge returns in rice farming. 

Buhari expressed delight that young Nigerians, including graduates, had started exploring agri-business and entrepreneurship. “Many have posted testimonies of good returns on their investments,” he said. He 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 also mentioned 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. 

Among those hosted by the president to the Eid el-Kabir lunch was the Deputy Senate President OvieOmo-Agege and 10 governors who are of the All Progressives Congress (APC). The governors include AtikuBagudu (Kebbi), Aminu Bello Masari (Katsina), Godwin Obaseki(Edo), InuwaYahaya (Gombe), Mohammad Badaru (Jigawa), NasirEl-Rufai (Kaduna), BabajideSanwo-Olu (Lagos), AbdullahiSule(Nasarawa), KayodeFayemi (Ekiti) and GboyegaOyetola (Osun). The Secretary to the Government of the Federation (SGF), Boss Mustapha was also in attendance. Our correspondent reports also that the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr MeleKoloKyari, acting chairman of the EFCC, Ibrahim MaguFRCN Director-General Mansur Liman, two ministers-designate, RotimiAmaechi and Isa Pantami were also at the president’s residence. 

Recall that over forty-one products were banned by the president from accessing FX amongst which are; rice, margarine, palm kernel/palm oil products/vegetables oils, meat and processed meat products, vegetables and processed vegetable products, poultry chicken, eggs, turkey, tinned fish in sauce (Geisha)/sardines; and tomatoes/tomato pastes.