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Don’t give money for food importation – Buhari orders CBN

President Muhammadu Buhari has ordered the Central Financial institution of Nigeria (CBN) to not give any cash for meals importation.

The Nigerian chief promised that administration will maintain a eager eye on meals inflation in 2021.

Buhari spoke on the fifth common assembly with the Presidential Financial Advisory Council held on Tuesday on the State Home in Abuja.

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“The CBN should not give cash to import meals. Already about seven states are producing all of the rice we want. We should eat what we produce”, he mentioned.

Buhari questioned the place the nation would have discovered itself by now in view of the devastating financial disaster caused by COVID-19 if the nation had not embraced agriculture.

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He lamented the dependence on petrol on the expense of agriculture.

The President noticed that the oil trade is at the moment in turmoil.

“We’re being squeezed to supply at 1.5 million barrels a day as in opposition to a capability to supply 2.3 million. On the identical time, the technical value of our manufacturing per barrel is excessive, in comparison with the Center East manufacturing,” he mentioned.

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Buhari emphasised the place of agriculture within the efforts to revive the financial system however agreed that measures should be put in place to curtail inflation within the nation:

He mentioned the federal government will proceed to encourage the folks to return to the land.

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