Nigerian President, Muhammadu Buhari on Tuesday said the Federal Government halted food importation to support agribusiness and spare Nigerians from joblessness.
He explained that practicing agriculture locally is indispensable in boosting profitability, diminishing joblessness, and neediness in the nation.
“For us to bounce back to productivity, especially in agriculture, the unemployed with many of them uneducated had to be persuaded to go into agriculture.
‘‘If we hadn’t gone back to the lands we would have been in trouble by now. That is why we virtually stopped the importation of food thereby saving jobs and foreign exchange,” the President said.
President Buhari revealed this during a virtual gathering with individuals from the Presidential Economic Advisory Council (PEAC) at the State House, in Abuja,
The president likewise advocated the government’s getting to fund infrastructure, declaring that his government took advances in light of a legitimate concern for the nation to fathom the critical shortage in framework.
“We have so many challenges with infrastructure. We just have to take loans to do roads, rail, and power, so that investors will find us attractive and come here to put their money,’’ the President said after listening to a presentation by PEAC chaired by Professor Ayo Salami.
He regretted that the failure to provide the infrastructure for effective transportation deprived the country of its well-deserved status as the West African hub for Air cargo transportation and trans-shipment of goods.
On the issue of the economy, President Buhari noted the challenges posed by the “collapse of the oil market” and the decision of the government to abide by the reduced oil production quota allocated by the Organisation of the Petroleum Exporting Countries (OPEC).
“We have to accept that decision; otherwise they (Middle-East producers) can flood the market and make the product unviable. So we have cooperated with what we get. With oil, we are in a difficult situation. The politics of oil is that the less you produce, the more you earn,” he said.
The President likewise proposed the issue of the COVID-19 pandemic and how it required the ongoing government approaches as they identify with vitality (power) and fuel.
He said the Federal Government took such choices since it puts the nation above country politics.