Buhari directs CBN to blacklist firms importing palm oil, 42 other items

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President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist any firm, its owner and top management caught smuggling or dumping any of the restricted 43 items into Nigeria.

The Presidential directive was disclosed by the CBN Governor, Mr. Godwin Emefiele on Friday in Abuja during a meeting with oil palm producers.

He disclosed that close to about N30 billion had already been disbursed to those currently involved in oil palm farming. “Doing this also means that while we are stopping the importation of palm oil, we must do all possible to ensure that palm oil production is aggressively“Like you all know, and I never cease talking about it that Nigeria in the 50’s and 60’s used to be the largest producer of oil palm in the world with a market share of 40 per cent.

Emefiele said that the presidential directive also mandated CBN to expand and provide support to firms and individuals that wanted to expand the production of 10 different commodities in Nigeria. He said that 115,000 hectares would be used for the actual cultivation while three hectares would be used for infrastructure, including roads.

 

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The emperor has spoken. Voodoo economics

While bokoharam are slicing soldiers. Mtchew.

May all your good plans to Nigeria to succeed.

Foolish president

God bless our president...

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BREAKING: Buhari directs CBN to blacklist firms importing palm oil, 42 other itemsMBuhari cenbank Great idea MBuhari cenbank This is a good idea Mr Buhari. Sir, you then follow this up by making funds available for local firms to boost production to meet local demand. Create incentives to attract others to startup. Okomu oil should be one of the biggest winners today in the stock market. Well done Sir. MBuhari cenbank The only good thing so far from this administration
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