President Buhari Stops CBN From Giving Money To Food Importers

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has barred the Central of Nigeria (CBN) from providing foreign exchange for the importation of food items into the country.

He said ought eat what they produce.

President gave the directive at the fifth regular meeting with the presidential advisory council that held at the statehouse in Abuja today December 29.

A statement released by Garba Shehu, the president’s senior assistant media and publicity, quoted President as saying eat what is produced in the country. He said;

“The CBN not give money import food. Already, about seven are producing all the rice we need. We eat what we produce. Going back the land is the way out. We depend petrol at the expense of agriculture. Now the oil industry is in turmoil. We are being squeezed produce at 1.5 million barrels a day as against a capacity produce 2.3 million. At the same time, the technical cost of our production per barrel is , compared the production

We will continue to encourage our people to go back to the land. Our elite is indoctrinated in the idea that we are rich in oil, leaving the land for the city for oil riches.

We are back to the land now. We must not lose the to life easier for our people. Imagine what would have happened if we didn’t encourage agriculture and closed the . We would have been in trouble.”

This is the third time that the President would issue CBN the directive not to give food importers foreign exchange. The first time was in August 2019 and again in September 2020.