..lauds Nigerians for curbing excessive taste for foreign products

By Johnbosco Agbakwuru
ABUJA – PRESIDENT Muhammadu Buhari Sunday in Abuja stated that Nigeria was on a productive voyage that would guarantee food sufficiency and gainful jobs.


The President has also commended Nigerians for curbing excessive taste for foreign products a development that has resulted in saving over $21 billion for the country.

President Buhari stated this while reacting to recent disclosures by the Central Bank of Nigeria governor, Mr Godwin Emefiele, who at the 2018 Annual Bankers’ Dinner stated that there was a drop on the monthly food import bill from US$665.4 million in January 2015 to US$160.4 million as at October 2018.

The President said, “We are on a productive voyage, which would see the ship of state berthing at the harbour of food self-sufficiency, gainful jobs, peace and prosperity for Nigerians.”

He noted that curbing excessive taste for foreign products, has positioned the country for food self-sufficiency, and resulted into savings of over $21 billion.

According to him, the humongous savings will be deployed to other critical areas like infrastructure, education, health care, and many others.

The CBN Governor was quoted to have said at the dinner that, “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 percent 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.”

President Buhari said with the commitment of Nigerian farmers, and the support given by the 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.”

The CBN governor according to a statement by the Special Adviser to the President on Media and Publicity, Chief Femi Adesina, equally spoke on the number of jobs created in the agriculture sector:

“In the agriculture sector, the Anchor Borrowers’ Programme (ABP) has ensured that Nigeria emerged from being a net importer of rice to becoming a major producer, supplying key markets in neighbouring countries.

“As at October 2018, a total number of 862,069 farmers cultivating about 835,239 hectares, across 16 different commodities, have so far benefited from Anchor Borrowers’ Programme, which has generated 2,502,675 jobs across the country.”

Describing the development as “heart-warming,” the President said it was just a matter of time before a significantly positive impact would be made in the statistics of the unemployed in the country, particularly from the agriculture sector.


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