No foreign exchange for food and fertilizer importers – Buhari

Buhari and CBN Governor, Godwin Emefiele

The President would rather empower local farmers and producers than give forex to importers of fertilizer.

President Muhammadu Buhari has directed that food and fertilizer importers should not be given access to foreign exchange by the CBN.

He said that the country would rather empower more local farmers, and use agriculture as a means to solve unemployment among youths.

The President announced this via his official Twitter handle, @MBuhari on Thursday evening.

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,” Buhari stated.

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