President Muhammadu Buhari’s directive to the Central Bank of Nigeria Governor, Godwin Emefiele to suspend giving of foreign exchange for food and fertilizer imports, was an action borne out of patriotism, presidential spokesman, Mr. Garba Shehu has said.
“Nigerians must give consideration for the fact that the President’s directive to the CBN is driven by nothing other than a patriotic motive,” the senior special assistant to the president stated, Channels Television quoted Shehu, who was a guest on its Sunrise Daily to have said.
President Buhari on Thursday directed Emefiele not to give foreign exchange for food and fertilizer imports.
The President, who issued the directive at a meeting of the National Food Security Council at the State House, in Abuja, restated his administration’s commitment to ensuring Nigeria is self-sufficient in food production.
”From only three operating in the country, we have 33 fertilizer blending plants now working. “We will not pay a kobo of our foreign reserves to import fertilizer. We will empower local producers”, the President asserted.
Reacting to the criticism that Buhari’s directive is overreaching, Shehu said, “I am not sure there is anywhere in the world that the Central Bank is so independent that it will operate as foreign ownership”.