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FOOD IMPORTS

The World Bank has advised the federal government to remove import restrictions on food and fertiliser imports and adopt a common ECOWAS external tariff. 
The Nigeria Customs Service (NCS) has unveiled requirements for companies seeking to participate in the duty-free food importation program as approved by the federal government.  
The Poultry Association of Nigeria (PAN), Lagos State chapter, is requesting a licence to import maize to alleviate production costs of its members. 
The Nigeria Customs Service (NCS) has begun implementing duties and tax-free importation of rice, flour, wheat, and other essential food items to help reduce the high costs of food in the country amid the severe hunger crisis in Nigeria. 
The Rice Farmers Association of Nigeria (RIFAN) Lagos state chapter has stated that the federal government should encourage local rice farmers in the country rather than allow importation.
The Managing Director of UAC Foods Ltd, Mr. Oluyemi Oloyede has stated that Nigerians should stop seeing food importation as evil in the light of the high food inflation being witnessed across the country.
What implication does the President's directive to the CBN hold for the economy?