$21bn SAVED ON FOOD IMPORT, SAYS BUHARI
Nigerian president, Buhari, has said that the country saved $21bn from food import.
He thanked Nigerians for the saving up of the over $21 billion, because of their excessive taste for foreign products.
He said the development has positioned the country for food self-sufficiency. He promised the nation that the humongous savings would also be adopted in other critical areas like infrastructure, education, health care, and many more.
The president, who was reacting to recent discoveries by the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, who during the 2018 Annual Bankers’ Dinner said, “Noticeable declines were steadily recorded in our monthly food import bill from US$665.4 million in January 2015 to US$160.4 million as at October 2018, a cumulative fall of 75.9 per cent and an implied savings of over US$21 billion on food imports alone over that period. Most evident were the 97.3 percent cumulative reduction in monthly rice import bills, 99.6 percent in fish, 81.3 percent in milk, 63.7 percent in sugar, and 60.5 percent in wheat. We are glad with the accomplishments recorded so far.”
Buhari added that with the devotion of Nigerian farmers, and the support given by the federal government, “in no distant future, food importation will be completely alien to us, and we will even export actively, thus reversing our position as a mono- product economy.”
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