Buhari Says Food, Fertilizer Importers Should Not Be Given Central Banks’ Forex

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President Muhammadu Buhari has reiterated that his administration will not allow people importing food or fertilizer into the country to be given foreign exchange from the Central Bank.

Since his re-election, the President has been very keen on reviving the agriculture sector in order to meet local food demand; and diversify an economy that has been too reliant on crude oil proceeds.

Some of the president’s unpopular economic policies have included closing the borders to spur local rice production and starving importers of food staples of forex. Also his administration’s mantra has been “we have to consume what we produce and produce what we consume.”

However, in new tweets shared on Friday, the President who has often harped on young people returning to the farms, averred that his administration will be empowering local farmers and producers as perennial fluctuations in the global oil market continue to hit the nation’s economy hard.

“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.

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

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