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Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items - Politics - Nairaland

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Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by OlawaleSmarter0(m): 7:44pm On Jun 15, 2019
President Muhammadu Buhari has directed the Central Bank of Nigeria to blacklist from the banking system any firm, its owner and top management caught smuggling or dumping any of the 43 items that are not eligible for foreign exchange.

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

The meeting, which was held at the headquarters of the CBN, was attended by Governor of Edo State, Godwin Obaseki and the chief executives of companies operating in the oil palm sector of the economy.


Emefiele also said the presidential directive mandated the apex bank to provide support to firms and individuals that wanted to expand the production of ten different commodities in Nigeria.

The ten different products are rice, maize, cassava, tomatoes, cotton, oil palm, poultry, fish, and livestock dairy and cocoa.

The apex bank boss said that to achieve the presidential directive, the bank would also work to encourage viable off-taker agreements between farmers and large-scale palm producing companies.


He said, “We want to ensure palm oil production is aggressively increased in Nigeria. Nigeria in the 50s and 60s used to be the largest producer of oil palm in the world with a market share of 40 per cent.

“For one reason or the other, particularly because we found crude oil which by any analysis is cheaper than palm oil, we decided to abandon our God-given gift of palm oil. By doing that, we lost jobs.


“Our farm lost jobs because we began to import palm oil from different parts of the world.

“The presidential directive that we have received is not about palm oil alone. We have received a presidential directive to focus on the production of ten different commodities.

“And this is the programme we will be embarking upon in the next couple of years. The ten different products are rice, maize, cassava, tomatoes, cotton, oil palm, poultry, fish, livestock dairy and cocoa.

“The presidential directive that we received said that we must expand and seek to give support to people who want to expand the production of these products in Nigeria.


https://punchng.com/buhari-orders-cbn-to-blacklist-importers-of-palm-oil-42-other-items/

14 Likes 2 Shares

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Laple0541(m): 10:22pm On Jun 15, 2019
Baba we can see you have the interest of the masses at heart, keep trying your best and leave the children of hate with their inborn hate, while other regions are busy thinking on how to make their regions better, let them keep shouting Atiku is coming.

100 Likes 10 Shares

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Enugupikin: 10:22pm On Jun 15, 2019
scam

3 Likes 1 Share

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Definetech56(m): 10:23pm On Jun 15, 2019
Tyale to Mr president

This country must move forward

May Allah Bless the president abundantly

All the lifeless youth that call themselves Yahoo Yahoo, they need to blacklist their entire generation, cos such people can sell the entire country if they have chances

45 Likes 8 Shares

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Bar1941(m): 10:23pm On Jun 15, 2019
A man with good heart, you are not infallable as this can be seen in some circumstances in your government, yet It's obvious you have the poor masses at heart. This will surely boost small and medium scale businesses in Nigeria. May God help our president.

45 Likes 3 Shares

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Houseofglam7(f): 10:23pm On Jun 15, 2019
undecided

1 Like 2 Shares

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by ezebunafo(m): 10:24pm On Jun 15, 2019
Anything to improve the condition of the common man is welcomed

23 Likes 2 Shares

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by funsho75(m): 10:24pm On Jun 15, 2019
Okay
Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Kendumazy(m): 10:24pm On Jun 15, 2019
OK.

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Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Nobody: 10:24pm On Jun 15, 2019
cool
Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by argon500: 10:24pm On Jun 15, 2019
Good move or bad move?
Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Flier: 10:24pm On Jun 15, 2019
This news is 2 years old

2 Likes 1 Share

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by micfoley: 10:25pm On Jun 15, 2019
Hmmm
Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Seetto: 10:25pm On Jun 15, 2019
God bless you Mr president,we pray may the Almighty God continue to guide you and give you the wisdom to take Nigeria to a greater height, we also pray for God guidance for the rest of our leaders.

9 Likes 2 Shares

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Cherrybae(f): 10:26pm On Jun 15, 2019
Very good directive. God bless and protect our president .

This is victory for democracy. Nigeria shall be great again

10 Likes

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by sujerozauber: 10:26pm On Jun 15, 2019
But why will they blacklist pple??

2 Likes 1 Share

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by chizpim(m): 10:26pm On Jun 15, 2019
Why not ban importers of refined crude oil, where large choke of forieghn exchanged goes into...

19 Likes 2 Shares

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by omonla10(m): 10:27pm On Jun 15, 2019
Small small o Mr President.. strict measures like this were partly responsible for d devaluation of the naira against d dollar few years ago

1 Like

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by chizpim(m): 10:28pm On Jun 15, 2019
Wait ooo, so na catfish we go dey chop now.. Jesu!

1 Like

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Nobody: 10:28pm On Jun 15, 2019
sad
Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by ArmaniUhuru: 10:29pm On Jun 15, 2019
Palm oil or crude oil?

4 Likes

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by Nobody: 10:30pm On Jun 15, 2019
when importation cost tends to be cheaper than domestic production cost the people will always operate based on cost efficiency.

4 Likes

Re: Buhari Orders CBN To Blacklist Importers Of Palm Oil, 42 Other Items by chukwundukc(m): 10:36pm On Jun 15, 2019
The best policy that will protect and encourage producers of oil palm.

I have been expecting this directives since decades.

Our poor parents in the village can produce oil palm and sell them at reasonable price to solve their problems.

12 Likes 1 Share

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