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Thu, Mar

We Did Not Ban Food Importation – Presidency To FT

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The Presidency had on Sunday denied the allegation that it has placed a ban on food importation into the country as published by Financial Times (FT)

 

This was contained in a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu. The statement reads; President Buhari recent directive to the Central Bank to deny FOREX to food Importers does not translate to an automatic ban on food importation into the country.

 

Shehu revealed that the importers could still seek the FOREX elsewhere and pay their requisite custom duties to the government.

 

The Presidency was reacting to the recent publication by the Financial Times titled ‘Muhammadu Buhari sparks dismay over policy shift on food imports’ published August 15.

 

In response to the publication as ‘Letter to the Editor’ the presidency clarifies that “Your article, ‘Muhammadu Buhari sparks dismay over policy shift on food imports (15 August)’, suggests the Nigerian Government is restricting the import of agricultural products into the country.

 

“This is simply incorrect. To be absolutely clear, there is no ban – or restriction – on the importation of food items whatsoever.

 

The presidency posited that its policies were consistently directed towards strengthening Nigeria’s own industrial and agricultural base. A recent decision was targeted to ensure the Central Bank maintains its reserves to put to use through helping the growth of domestic industry in 41 product sectors rather than dispensing FOREX for importation of same products from overseas.

 

Accordingly, the importers of such items may wish to source their FOREX elsewhere and pay custom duty on those items the same thing the Financial Times has scolded the federal government for not implementing it over time.

 

The Presidency added, “Diversification of FOREX provision towards the private sector and away from top-heavy government control, a diversification of Nigeria’s industrial base, and an increase in tax receipts, are all policies one might expect the Financial Times to support.

 

However, the author and this newspaper seem to believe the President’s administration seeks to control everything – and yet do so via policies that relinquish government control.

 

In its own article earlier, the Financial Times wrote that Buhari’s directive to the CBN could send food prices “skyrocketing.”

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