The president of Nigeria Muhammad Buhari has instructed the Central bank of Nigeria to stop issuing foreign currencies to be used for the importation of food products.
In his statement, President Muhammadu Buhari said that the move is aimed at conserving the foreign reserve of Nigeria and help the nation to be self-reliant in food production through diversification in agriculture.
The president of Nigeria supported his decision in his twitter handle. He said that his current administration wants to strengthen agriculture in the country of Nigeria.
His statement has sparked a lot of discussion amongst experts and netizens. Many now question the independence of the Central Bank of Nigeria while others question if there are other policies in place to support the policy.
The policy of discouraging importation of food products will also contradict the Africa Continental Free Trade Agreement (AfCFTA), which President Buhari signed with other African leaders in July.