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Buhari insists “no kobo” of foreign exchange will be issued for food imports
Buhari insists “no kobo” for food imports sending a loud message to CBN to ban forex for importation for food and fertilizer
President Muhammadu Buhari has warned the Central Bank of Nigeria against implementing any plans geared towards providing forex for the importation of “food items and fertilizers” into the country.
The President made this remark via his Twitter handle on Thursday, September 10th as he presided over the National Food Security Council meeting yesterday at the State House, Abuja.
READ: CBN removes “third parties” from buying forex routed through Form M
According to a series of tweets from the president’s Twitter handle, “I am restating it that nobody importing food or fertilizer should be given foreign exchange from the Central Bank. We will not pay a kobo of our foreign reserves to import food or fertilizer. We will instead empower local farmers and producers.”
I am restating it that nobody importing food or fertilizer should be given foreign exchange from the Central Bank. We will not pay a kobo of our foreign reserves to import food or fertilizer. We will instead empower local farmers and producers.
— Muhammadu Buhari (@MBuhari) September 10, 2020
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He also claimed that Nigeria has “a lot of able-bodied young people willing to work, and agriculture is the answer.”
Just last week the CBN issued emergency forex importation approvals for companies for the importation of 262,000 tonnes of Maize. The companies are Wacot Limited, Chi farms Limited, Crown Flour Mills Limited, and Premier Feeds Company Limited. It is unclear if this statement by the president affects these plans.
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Between the lines: These tweets appear to be clear instructions to the CBN to resist any plans to provide forex to importers of forex into the country for importation of food items.
- The government’s economic policy has centered mainly on food and agriculture security even as prices of food remains at all-time high.
- Latest inflation numbers indicate food inflation rose by 15.48% in July 2020 compared to 15.18% in June 2020.
- This represents a 0.34% increase compared to June figures. Also, on a month-on-month basis, the food sub-index increased by 1.52% in July 2020, up by 0.04% points from 1.48% recorded in June 2020.
READ: CBN claims no immunity for Emefiele as it fires back at NESG
Coronavirus
Facebook launches social media drive to boost Covid-19 acceptance in Nigeria
This initiative is coming at a time when a good number of Nigerians are yet to accept the Covid-19 vaccine and promised not to take them.
Facebook has announced the launch of a new social media drive allowing people to add frames and graphics to their profiles on Facebook and Instagram, saying they have either had the Covid-19 vaccine or plan to do so.
The American Technology conglomerate is collaborating with the National Primary Health Care Development Agency (NPHCDA) and other key regulatory bodies within the Health Sector in the country in driving this initiative.
According to Punch, this disclosure was made known through a statement issued by Facebook on Friday, saying it would use its scale and speed to reach people faster and help them get credible information, get vaccinated and come back together safely.
This initiative is coming at a time when a good number of Nigerians are yet to accept the Covid-19 vaccine and promised not to take them.
Facebook said that the new range of Facebook frames and Instagram GIPHY stickers allow people to share their support for getting vaccinated with their family and friends, as the access to Covid-19 vaccines intensify across Nigeria.
The frames and stickers include banners that say ‘Let’s Get Vaccinated’ or ‘I Got My Covid-19 Vaccine’ which would appear overlaid on the edge of their profile picture next to a blue bubble that reads ‘We Can Do This.’
Facebook, pointed out that due to the reluctance of millions of people to accept the vaccine, it was launching the profile frames with research showing how social norms could have a major impact on people’s attitude and behaviour when it comes to their health.
Facebook’s Head of Public Policy for Anglophone West Africa, Adaora Ikenze, said, “We’re promoting these unique profile frames and GIFs to all Nigerian Facebook and Instagram users to raise vital vaccine confidence.’’
The new frames and GIPHY stickers let you share your support for COVID-19 vaccines, and see that others you respect and care about are doing the same.”
On his part, the Executive Director and Chief Executive Officer of the NPHCDA, Faisal Shuaib, said partnerships like the one secured with Facebook demonstrated the resilience of the human spirit to endure, innovate and reemerge with the promise of hope that COVID-19 vaccination offered to everyone.
What you should know
Facebook has in recent times, have been taking aggressive measures to do away with vaccine misinformation across the globe.
A top executive of Facebook had said that the company has fact-checkers in dozens of countries around the world, who are really working round the clock to look at misinformation about vaccines, as it sees it as absolutely imperative to try to get misinformation off the platform and redirect people to accurate information.
Facebook said that it started removing false information about Covid-19 vaccines in December, and expanded the list of offending vaccine-related claims two months later.
Hospitality & Travel
How to ensure airfares are not overpriced
it is important to speed up general aviation development to create options for the flying public.
Three weeks ago, Nairametrics reported that airfares in Nigeria have risen by about 100%. This development was confirmed by some airline operators, who also offered suggestions on how passengers could minimise air travel cost.
In an interview, the Chairman of West Link Airlines, Captain Ibrahim Mshelia, explained that it is important to speed up general aviation development to create options for the flying public.
According to him, the speedup would take away some of the inherent challenges in the industry that caused the fares to soar, things that affect the airlines at the core and militate against their survival.
READ: Cost of preparing jollof rice in Nigeria rises by 7.8% in Q1 2021 – SBM
He said, “More airlines are coming onstream, this will mitigate this problem. In defence of the airlines, there are many factors that affect ticket pricing in Nigeria. Aviation does not enjoy oil money anymore.
Airlines are faced with inconsistent fuel pricing and they also pay import duty for spare parts even when the government has granted waivers, etc. As I speak, I still pay duty for all parts I import to service our aircraft. I don’t even know if there is anything we produce locally that we use to operate our aircraft these days besides catering.”
Chairman of United Nigerian Airlines, Chief Obiora Okonkwo attributed the prices hike to the inconsistent jet fuel price or unavailable jet fuel and lack of forex to enable the system operate like clockwork.
He said, “Honestly speaking if you look at the cost of operations in this industry, I’ll say that there may not be so much amount paid that we can regard as too much. You will not like it.”
READ: Lagos to Abuja flight ticket surge to N100,000 as Christmas approaches.
What you should know
Nairametrics had reported that the cost of airline tickets in Nigeria increased by almost 100% in the last one month.
Recent checks by Nairametrics confirms that ticket fares to cities like Port Harcourt, Ilorin, and northern states like Kebbi, Borno, Adamawa and Kano have increased by as much as 100% in the last one month.
Business and student travellers who spoke to Nairametrics about their experience expressed shock and resentment about the rising cost of airfare in Nigeria especially as travelling by road continues to be risky due to the activities of bandits and kidnappers.
