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Why I stopped CBN from giving out forex for food importation — Buhari

Why I stopped CBN from giving out forex for food importation — Buhari

—Says Nigeria almost self-sufficient in food production
By Johnbosco Agbakwuru

PRESIDENT Muhammadu Buhari on Friday explained that he stopped the Central Bank of Nigeria, CBN, from giving out foreign exchange, forex, to importers of food products to make Nigeria self sufficient in food production.

President Buhari said that the policy has yielded good results as the country has saved millions of dollars that would have been expended on food importation.

Speaking when he received members of Council for New Nigeria Initiative (CNNI), led by Senator Abu Ibrahim at the Presidential Villa, Abuja, the President said that the country should invest more in agriculture, adding that it was a faster way of making strides.

According to him, “With our vast population and land, agriculture is the way to go. We bumped into it by experience and common sense when we came in 2015. We encouraged people to go back to the land, and God has been kind to us, giving us three to four good rainy seasons in succession.

“Those who went into farming have no regrets, and we now save millions of dollars that would have been expended on food importation.

“We are almost self-sufficient in food production, and that was why I told the Governor of the Central Bank that not even one cent should be given for food importation. We have got more people back to the land, employment is being generated, and we will do more of it.”

The President commended members of CNNI, which is the successor to the National Committee for Buhari Support Groups, “for volunteering to do an unpopular job,” noting that, “it shows commitment and courage on your part.”

CNNI, according to Senator Ibrahim, has the vision of a new Nigeria, where the leaders and the led are united in their commitment to advancing the cause of the nation, and the citizens’ sense of patriotism and pride is utmost.

The objectives of the organization include: to serve as a platform for promoting the ideals of nationhood and responsible citizenship; stimulate and re-orientate the citizenry to become active participants in the nation- building process; serve as a vehicle that will alert government of economic, political and social initiatives that will benefit the citizenry; and mobilize support to fight corruption, secure the country, develop infrastructure and bequeath a legacy of positive socio-political change.

Senator Ibrahim said CNN has already enunciated a detailed action plan for 2019-2023.

The post Why I stopped CBN from giving out forex for food importation — Buhari appeared first on Vanguard News.

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