Buhari Orders CBN On Forex And Food Importation. Is He On The Right Path?

According to former minister of Education, Oby Ezekwesili, described the President Buhari as an "out-of-touch" leader with the implementation of restriction on the foreign reserve on importation. The President believes that the farmers and agricultural sector has grown exceedingly to the extent of exporting to the U.S, whereas reverse is the case.

In line with this, the President Buhari states that the foreign reserve should be conserved and utilized strictly for diversification of the economy.

What are your thoughts on this? Would this policy implementation boost the economy or not?

Comments Reply
  • Yes, we should consume our own products.

    - Francis Ekezie - 2019-08-14 20:10:04 Quote

  • But farmers keep on complain about the government every day 

    - Ishaq Ndako Suraju - 2019-08-14 20:11:20 Quote

  • I don't think these can boost the economy positively o

    - Ayomide Feranmi - 2019-08-14 20:13:21 Quote

  • This issue of forex trading needs to be addressed to put naira and other currencies on the right track

    - Obaji ifeanyichukwu - 2019-08-14 20:16:05 Quote

  • The president is right, by now we should be exporting to the US, but the big question remains how well has the government supported farmers to achieving quality and quantity in production? Forecast isn't really our problem. 

    - Chinemeze Ejelonu - 2019-08-14 20:38:42 Quote

  • Yes it will boost or help the local production in one way or the other

    - AYOBAMI ABIODUN - 2019-08-14 20:48:48 Quote

  • It's good, but we all are aware that the quality of some of our products aren't standard. 

    - David Isaacs - 2019-08-14 20:49:05 Quote

  • In as much as we looking for ways to boost the economy, i  suggest all decisions should be properly checked before execution

    - Timothy Idachaba - 2019-08-14 20:50:25 Quote

  • Yes because it will help our local food production and also improve our economy 

    - Emmanuel Ogwola - 2019-08-14 20:56:25 Quote

  • This can't improve economic state of the country, it will rather cause inflation of goods and services

    - Ajayi Victor - 2019-08-14 21:07:43 Quote

  • Yes, it will boost Nigeria economy because we will utilize our (local) that we have 

    - Olaleye Hammed - 2019-08-14 21:10:07 Quote

  • Government should make made in Nigeria goods more affordable while we patronize them. My opinion though.

    - Mfon-Abasi Idio - 2019-08-14 21:18:14 Quote

  • Yes, he is doing the right thing but should be done little by little. 

    - EMEKA NWAGALAKU - 2019-08-14 21:35:57 Quote

  • On that of forex he should first strike a balance between naira and dollar. Concerning importation there should be a way out or let me say reliable way out before going about that though its a good thinking

    - Taiwo Enoch - 2019-08-14 21:46:25 Quote

  • Sure this will bring about improvements in the aspect of food security in our great nation. Also, it will  create room for economic growth in the area of agriculture.

    - JOHN David J. - 2019-08-14 21:54:59 Quote

  • It's a giant step to Nigerians if the government will sincerely fund the agricultural sector.

    - Fanim Peter Rimven - 2019-08-14 21:56:02 Quote

  • We are not yet in that position, when we have full of our products then we can stop from getting from outsider. 

    - Otukoya Omotayo - 2019-08-14 22:16:09 Quote

  • My own opinion is that, it is high time we Nigeria come up to age and begin to patronize our own products and the Government should do what they need to do to boost our currency 

    - Asah Endurance - 2019-08-14 22:35:56 Quote

  • Our agricultural sector is still not in order to feed nation.

    - John Asuzu - 2019-08-14 22:37:14 Quote

  • Even if they ban importation, our customs officer won't heed, they are the main problem here

    - Rose Okah - 2019-08-14 22:42:53 Quote

  • That's good! But, government needs to put things in order before that. The so called Bank of Agriculture hardly give farmers loan not to talk of machinery. Government should put things in place before embarking on such mission

    - Onwa Matthew - 2019-08-14 23:04:01 Quote

  • I think the president's decision is right but I also hope that the diverted funds are not embezzled.

    - Kester Asuelimen - 2019-08-14 23:05:04 Quote

  • I think it's a brilliant idea. This will really help the economy of the country 

    - Bolarinwa Akintoke - 2019-08-14 23:23:22 Quote

  • I believe it will, making waves and good earning opportunity is what people need

    - Olubunmi Fagbemi - 2019-08-14 23:28:45 Quote

  • I think he's right, he wants to promote farming in the country

    - Adewuyi Femi - 2019-08-14 23:39:07 Quote

  • I believe placing restrictions on the importation of agricultural products by the president is a good step to self dependency and national development. Besides, Nigeria is big enough to produce agricultural products that will meet the needs of Nigerians. This will not only yield self dependency but also foreign reserves from exportation of the excesses produced

    - Kelly Emmanuel - 2019-08-14 23:45:26 Quote

  • I believe placing restrictions on the importation of agricultural products by the president is a good step to self dependency and national development. Besides, Nigeria is big enough to produce agricultural products that will meet the needs of Nigerians. This will not only yield self dependency but also foreign reserves from exportation of the excesses produced

    - Kelly Emmanuel - 2019-08-14 23:48:23 Quote

  • He is correct partially. Honestly we haven't gotten to that point yet, moreover there is still a lot to be done before we talk about conserving forex

    - Remigus Nwaokonko - 2019-08-15 00:42:24 Quote

  • The President directive to the CBN to stop issuance of Forex to food importers is the right step forward.It will further boost food production at home.

    - Shalom Gyam - 2019-08-15 01:12:15 Quote

  • We can't patronize other country goods when ours is affordable 

    - Adeniran Muiz - 2019-08-15 03:00:25 Quote

  • Well, I believe he is well aware of the consequences.. If this farmer don't get to have enough, or remain consistent, hmm he will beg the importers and this time will pay more.. 

    - Daniel Adeyemi - 2019-08-15 05:36:34 Quote

  • The president is right about this. this will boost the economy

    - Anthony Bassey - 2019-08-15 05:57:20 Quote

  • There should be a soft landing to these changes. You don't just wake up one day and ban FX because you were told that the rice you are picking in your teeth was produced in kano.

    - Christopher Anekhe - 2019-08-15 06:51:50 Quote

  • We are grown enough to feed ourselves, it's high time we started

    - Ahmad Musa - 2019-08-15 06:55:56 Quote

  • I don't see anything wrong in we consuming our own products

    - Golden Okechukwu - 2019-08-15 06:57:25 Quote

  • Am not sure this man knows what he is taking about. Ask him about this tomorrow and he will say a different thing. How would our economy be diversified by  utilizing and conserving our foreign reserves?

    Diversification which is applied as a strategy to encourage positive economic growth and development by shifting away from a single income source toward multiple sources from a growing range of sectors cant only be a remedy to our economic boost.

    - Iorpine Loya - 2019-08-15 07:45:39 Quote

  • Let's hope he is right on this because anything forex could fall anytime

    - ONNIONG UDOFIA - 2019-08-15 08:05:21 Quote

  • Does our president have advisers at all?

    One man cannot be a master of all, so people competent in those areas should manage them. If the president took these decisions on his own, then I condemn it.

    - Godstime Bethuel - 2019-08-15 08:53:50 Quote

  • No he is not on the right part because  there is lots of  things Nigerians are making use of, but they can produce it

    - Nnamani Elias - 2019-08-15 08:56:39 Quote

  • how can we be producing things and no use them. if this is how other countries do to their own products do u think we will buy them. let's patronize our own products to boost out economy. 

    - IBRAHIM HAFIZ - 2019-08-15 09:15:16 Quote

  • Is it not better that we eat what we produce, in other hand farmers should be equipped to give the country the much desired products

    - Dorothy Azodo Amaka - 2019-08-15 09:41:52 Quote

  • When PMB assumed office in 2015, borders were shut and foodstuff prices became considerably very high leading to more home grown crops (most espaciallly rice) and farmers where happy. Its a welcome development. Nigeria need to reduce the rate of importation and that should start with the food sector.

    - Lubem Terzungwe - 2019-08-15 10:21:35 Quote

  • It's good we consume our own product amd it will also bring about high development and more income in the agricultural sector

    - Dorcas Morounmubo - 2019-08-15 10:41:02 Quote

  • Yes, because it would boost the economy and also create job opportunities for the youths

    - Ahmed Gbemisola - 2019-08-15 10:45:35 Quote

  • Buhari does not know what we Nigerians are facing. He is just in Aso rock making policies

    - Emmanuel Oyinloye - 2019-08-15 11:02:43 Quote

  • Yes. I also like his idea cause it will give room for job opportunities for youth and reduce crime rate

    - Majesty Emeka - 2019-08-15 11:05:58 Quote

  • It's good, but we all are aware that the quality of some of our products aren't standard. 

    - Justice Mike - 2019-08-15 12:09:54 Quote

  • Is the President doing same? Is he making use of our hospitals and doctors? Do they even follow suit what they proffer? The problem with such policies from time past is not even wether it's good or not, are they implemented? 

    - Rita Amadedon - 2019-08-15 12:28:15 Quote

  • Yes that is nice, we should learn to value our products

    - Ephraim Iannah - 2019-08-15 13:27:22 Quote

  • I don't think what he did is good, in Nigeria we are facing a lot of challenges and hard times in this country, here no support to Farmers by the government yet they are just banning the importation of food, how do we expect the peasant farmers to Carter food for the whole nation , I don't support that idea

    - Okoh Joshua - 2019-08-15 14:12:01 Quote

Others are reading