President Mohammadu Buhari has directed the Central Bank of Nigeria not to give money for food importation noting that "already about seven states are producing all the rice we need. We must eat what we produce.”
President Buhari, Tuesday, at the fifth regular meeting with the Presidential Economic Advisory Council held at the State House, Abuja, promised that his administration would work hard to curtail food inflation in the New Year, 2021.
In a report contained in Daily Trust https://dailytrust.com/buhari-well-fight-food-inflation-in-2021, President Buhari had called for more input in the Agricultural Sector as it had helped save the country especially during the oil fall occasioned by the COVID-19 Pandemic.
“Going back to the land is the way out. We depend on petrol at the expense of agriculture. Now the oil industry is in turmoil. We are being squeezed to produce at 1.5 million barrels a day as against a capacity to produce 2.3 million. At the same time, the technical cost of our production per barrel is high, compared to the Middle East production.”
“We will continue to encourage our people to go back to the land. Our elite are indoctrinated in the idea that we are rich in oil, leaving the land for the city for oil riches. We are back to the land now. We must not lose the opportunity to make life easier for our people. Imagine what would have happened if we didn’t encourage agriculture and closed the borders. We would have been in trouble,” he said in a statement issued by his spokesman, Garba Shehu.
The Central Bank of Nigeria in its "2021 Economy outlook and CBN’s solutions" captured in Vanguard https://www.vanguardngr.com/2020/12/2021-economy-outlook-and-cbns-solutions/ had stated that the apex bank having counted the gains in it's Intervention Programs in 2020, is set to roll out more in 2021 as a robust strategic measure to boost consumer spending and support economic recovery against COVID-19 Pandemic.
0 Comments
Kindly let your voice be heard through the comment section below