Nigeria spends $1.41bn on food imports in 8 months

Nigeria spent $1.41 billion on food importation from January to August 2021 despite the directive that the Central Bank of Nigeria (CBN) should stop issuing forex for food and fertiliser imports.

Nigeria’s president, Muhammadu Buhari had in September 2020 given a directive to the CBN at a meeting of the National Food Security Council at the Presidential Villa, Abuja, saying that firms that were bent on importing food should source their forex elsewhere.

“Nobody importing food should be given money,” he was quoted as saying in a statement from the Senior Special Assistant to the President on Media and Publicity, Garba Shehu.

Read more from the source- EIN