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Nigerian president directs CBN to stop providing forex for food importation

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  • President Muhammadu Buhari directs CBN to stop providing FX for food imports
  • The president believes Nigerian has achieved “steady improvement in agricultural production, and attainment of full food security.”

Nigerian President Muhammadu Buhari has directed the Central Bank of Nigeria (CBN) to stop providing foreign exchange for importation of food into the country.

The president harped the decision on the “steady improvement in agricultural production, and attainment of full food security.

He stated this on Tuesday, August 13, in hometown, Daura, Katsina State while on Eid-el-Kabir break.


President Muhammadu Buhari

“Don’t give a cent to anybody to import food into the country.

“We have achieved food security, and for physical security, we are not doing badly,’Garba Shehu, Senior Special Assistant to the President (Media & Publicity) quoted him as saying in a release.

President Buhari noted that some states like Kebbi, Ogun, Lagos, Jigawa, Ebonyi and Kano had already taken advantage of the government’s policy on agriculture with huge returns in rice farming, urging more states to plug into the ongoing revolution to feed the nation.

He said he was particularly delighted that young Nigerians, including graduates, had started exploring Agric-business and entrepreneurship, with many posting testimonies of good returns on their investments.