President Buhari has ordered the Governor of Central Bank, Godwin Emefiele to stop approving FOREX for food imports.
He further said that there are enough food in the country.
As advanced in Agricultural productts; US and UK still imports foods from China.
Nigeria’s problem is not importation of foods but stoppage of importation of refined fuel.
Nigeria is Africa largest producer of crude oil.
Do you know that US and UK still imports food? That’s why food is the cheapest thing in London.
President Buhari would receive all the accolades if he orders CBN Governor to stop approving FOREX for refined fuel since we have CRUDE OIL in Nigeria.
For your information; Nigeria consumes 60 million litres of PMS daily. Let’s do the calculations :
60, 000, 000 × 205 (landing costs) = N12.3bn daily
This implies that CBN spends N12.3bn daily on FOREX to import refined fuel in a country that has the best CRUDE OIL in the world.
We have not talked about of AVIATION FUEL, LUBRICANTS, LPFO, DPK, BITUMEN which are byproducts of CRUDE OIL.
By stopping the importation of foods will create more hunger in Nigeria.
Mark my words; a bag of rice will soon skyrocket to N40K from N6K when APC came to power.
Let’s stop importation of refined fuel so that someone would trek from Daura to Abuja.
Prof Osinbajo would trek from Abuja to Lagos.
It’ll get our brains working again; so that we can REFINE our CRUDE OIL.