Presidency Makes U-Turn On Food Imports

The Presidency, yesterday, said that the Federal Government has neither banned nor restricted importation of food items in the country.
The Presidency also explained that the recent directive by President Muhammadu Buhari to the Central Bank of Nigeria (CBN), to stop providing foreign exchange for importation of food items did not mean a restriction on the importation of food items.
A statement by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu in Abuja, further stated that any importers of food items that wished to source their FOREX from non-government financial institutions (and pay customs duty on those imports – increasing tax-take) were free to do so.
The Presidential spokesman was replying to a report in ‘FINANCIAL Times’, which was a letter to the Editor with the titled, “Muhammadu Buhari sparks dismay over policy shift on food imports”, published on 15th August, 2019.
Shehu wrote, “Your article “Muhammadu Buhari sparks dismay over policy shift on food imports” (15 August) suggests the Nigerian Government is restricting the import of agricultural products into the country.
“This is simply incorrect. To be absolutely clear, there is no ban – or restriction – on the importation of food items whatsoever. “
Buhari has consistently worked towards strengthening Nigeria’s own industrial and agricultural base.
A recent decision sees the Central Bank maintain its reserves to put to use helping growth of the domestic industry in 41 product sectors rather than provide FOREX for the import of those products from overseas.