President Muhammadu Buhari has come out to break down why he stopped the Central Bank of Nigeria, CBN, from giving out foreign exchange, forex, to importers of food products.
PMB recently revealed that he did that to make Nigeria self-sufficient in food production.
According to him, the policy has yielded fruit since the nation has saved millions of dollars that would have been spent on food importation.
He added that with our large population and land, agriculture is the answer for Nigeria.
His words, “With our vast population and land, agriculture is the way to go. We bumped into it by experience and common sense when we came in 2015. We encouraged people to go back to the land, and God has been kind to us, giving us three to four good rainy seasons in succession.
“Those who went into farming have no regrets, and we now save millions of dollars that would have been expended on food importation.
“We are almost self-sufficient in food production, and that was why I told the Governor of the Central Bank that not even one cent should be given for food importation. We have got more people back to the land, employment is being generated, and we will do more of it.”