300,504FansLike
227FollowersFollow
6FollowersFollow
FollowersFollow
902FollowersFollow
138SubscribersSubscribe

Buhari directs CBN not to give a “kobo for food and fertilizer imports”

Although we are headquartered in Washington D.C. USA, our reporters and editors are working around the globe to cover what you care about. We invite you to donate to our fundraiser to help us keep our quality news free and available for all.

As the Federal Government rolls out the Economic Sustainability Plan and sets goal for National Food Security, President Muhammadu Buhari on Thursday ordered the Central Bank of Nigeria ”not to issue a kobo” of the country’s reserves for the importation of food items and fertilizer.

At a meeting of the National Food Security Council at the State House, Abuja, President Buhari restated his earlier verbal directive to the apex bank, saying he will pass it down in writing that ”nobody importing food should be given money.”

Emphasizing the need to boost local agriculture, the President said:

[read_more id="2" more="Read full article" less="Read less"]

”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.”

Furthermore, President Buhari also directed that blenders of fertilizer should convey products directly to State governments so as to skip the cartel of transporters undermining the efforts to successfully deliver the products to users at reasonable costs.

The President advised private businesses bent on food importation to source their foreign exchange independently, saying ”use your money to compete with our farmers”, instead of using foreign reserves to bring in compromised food items to divest the efforts of our farmers.

”We have a lot of able-bodied young people willing to work and agriculture is the answer. We have a lot to do to support our farmers,” President Buhari said.

The meeting, chaired by the President with other key members of the Council in attendance, was briefed on the food security situation prevailing in the country.

Notably, the Vice Chairman of the council and Governor of Kebbi State, Atiku Bagudu, the Chief of Staff to the President, Prof. Ibrahim Gambari and a Governor from each of the six geo-political zones – Jigawa, Plateau, Taraba, Ebonyi, Lagos and Kebbi, made presentations.

The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, outlined measures introduced by the administration to tackle the unprecedented challenges from the COVID-19 pandemic on the nation as contained in the Nigerian Economic Sustainability Plan (NESP).

Among others, the Minister highlighted that the government will facilitate the cultivation of 20,000 to 100,000 hectares of new farmland in every State and support off-take of agro-processing to create millions of direct and indirect job opportunities.

She also listed the creation of 774,000 direct jobs for a minimum of 1,000 young Nigerians in each local government, the construction of 300,000 homes every year to give a boost to jobs through the construction industry, as well as the connection of 25 million new users of electricity with the installation of Solar Home System (SHS) targeting 5 million households.

Dr Ahmed also briefed on the joint investment with the World Bank to provide intervention fund to States to improve health infrastructure.

She said to ease existing financial hardships among the people, the government is also coming up with low-interest loans for mechanics, tailors, artisans, petty traders and other informal business operators.

The Minister added that the Federal Government will equally provide support to Micro, Small and Medium Enterprises (MSMEs) to help them keep their employees and boost local manufacturing.

Dr Ahmed explained that from the recently approved N2.3 trillion stimulus recommended by the NESP, there will be expansion of broadband connectivity to boost job opportunities in the digital economy, a planned expansion of the National Social Investment Programmes including increase in the number of beneficiaries such as the cash transfer beneficiaries, N-Power Volunteers, the Market Moni and Trader Moni schemes.

In his presentation, the Minister of Agriculture, Alhaji Sabo Nanono told the Council that the nation expects a bumper harvest of food items despite floods in the north and drought in the south.

He quoted the latest market surveys to show that the recent hike in the price of commodities is being reversed.

On his part, Mr Boss Mustapha, the Secretary to the Government of the Federation and Chairman of the Presidential Task Force on COVID-19, reported the negative impact of the pandemic on the lives and livelihood of citizens, while the Comptroller-General of Customs, Col Hameed Ali (Rtd) expressed the hope of an early reopening of the partially closed borders given the progress made with neighbouring States in joint border patrols – one of the key conditions by Nigeria for reopening of the borders.

[/read_more]

TODAY NEWS AFRICA
TODAY NEWS AFRICAhttps://todaynewsafrica.com
TODAY NEWS AFRICA is registered and headquartered in Washington, District of Columbia, United States of America. Our publication is widely read, respected and influential. By providing daily answers to questions our readers have about the people, the businesses and the continent of Africa, we are reaching a diverse and wide audience from around the world. Our readers, many of them world leaders, trust us because we are independent and truthful. Our advertisers understand the difference between news, views and ads. Contact us: contactus@todaynewsafrica.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

300,504FansLike
227FollowersFollow
6FollowersFollow
1FollowersFollow
902FollowersFollow
138SubscribersSubscribe

JUST IN

As dictatorship escalates, Ethiopia charges prominent opposition figure Jawar Mohammed with terrorism

As human rights organizations continue to warn that Prime Minister Abiy Ahmed is turning Ethiopia into a dictatorship, his administration on...

Trump reimposes all UN sanctions on Iran

The Trump administration said on Saturday it had reimposed all United Nations sanctions on Iran, although 13 of the 15 U.N....

Poison ricin mailed to Trump from Canada intercepted

Authorities in the United States are investigating a package containing poison ricin that was mailed to President Donald Trump last week.

Africa endorses protocol for COVID-19 herbal medicine clinical trials

The Regional Expert Committee on Traditional Medicine for COVID-19 formed by the World Health Organization (WHO), the Africa Centre for Disease...

WHO and UNICEF sign 10-year partnership to promote mental health of children and adolescents

 A new partnership between WHO and UNICEF is calling for key actions in universal health coverage, mental health, emergencies and nutrition

MOST POPULAR

IMF announces COVID-19 youth fellowship contest

The International Monetary Fund (IMF) on Friday announced its IMF 2020 Annual Meetings Youth Fellowship Contest, which is open to bloggers,...

South African president gives defense minister 48 hours to explain why air force plane was used to fly ANC members to Zimbabwe

South African President Cyril Ramaphosa has given Minister of Defense and Military Veterans Nosiviwe Mapisa-Nqakula 48 hours to explain why a South...

IMF approves disbursement of additional $1 billion for Angola to respond to COVID-19 economic fallout

The International Monetary Fund (IMF) on Wednesday approved the disbursement of an additional $1 billion for Angola to respond to...

USAID awards millions of dollars to Washington State University to combat lethal livestock disease in East Africa known as East Coast Fever

The U.S. Agency for International Development (USAID) has awarded millions of dollars to Washington State University to combat a lethal livestock...

A world in disorder: WHO and World Bank experts say it would take 500 years to spend as much on preparedness as the world is currently losing to COVID-19

A new report by the World Health Organization Global Preparedness Monitoring Board, a joint arm of the WHO and the World Bank, warned...

Five Africans from Nigeria, Egypt, Senegal, Liberia and Uganda make UN 2020 class of 17 young world leaders

The United Nations on Friday announced the names of the latest class of 17 Young Leaders for the Sustainable Development Goals (SDGs). The list includes five Africans from Nigeria, Egypt, Senegal, Liberia and Uganda.The five Africans on the list are Oluwaseun Ayodeji Osowobi, 29, Nigeria, Vanessa Nakate, 23, Uganda, Mariama Djambony Badji, 22, Senegal, Loay...

Stay connected

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

WhatsApp
Reddit
Share
Tweet
Share