President Muhammadu Buhari on Tuesday directed the Central Bank of Nigeria (CBN) to stop providing foreign exchange for importation of food into Africa’s most populous economy.
Concise News learned that the Nigerian leader gave this directive when he hosted governors on the platform of the ruling All Progressives Congress (APC) to Eid-el-Kabir lunch in Daura, Katsina state.
Buhari, according to his media aide Garba Shehu, explained that the directive was important considering the “steady improvement” in agricultural production and attainment of “full food security” in Nigeria.
But he said that the foreign reserve would be conserved and utilised for diversification of the country’s economy.
“Don’t give a cent to anybody to import food into the country,” Shehu quoted Buhari as saying.
“We have achieved food security, and for physical security, we are not doing badly.”
In his remarks, Ekiti state governor and the Chairman of the Nigeria Governors’ Forum said that the challenges faced by states “were enormous”.
But he said that the governors had remained undaunted, assuring the President of strong support.