We Can't Sustain Spending N1trillion on Importation of Foods We Can Produce - Buhari

President Muhammadu Buhari on Tuesday in Birnin Kebbi said that the situation where Nigeria spent huge sums of money in importing food items that could be locally produced in Nigeria was no longer sustainable.

The president, who spoke at the launching of the Central Bank of Nigeria's Anchor Borrowers' Programme and the commencement of the dry season farming, said that the falling oil prices had left Nigeria with no other option but to diversify.

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The CBN put the amount spent yearly on such importation at over N1trillion.

The president agriculture had always been the mainstay of the nation's economy but was abandoned following ‎the discovery of oil.

He said: "The importance of agriculture in the economy cannot be over-emphasised. Prior to the advent of oil, our country‎ survived on agriculture production."


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SOURCE: ThisDay Newspaper