According to the Governor of the Central Bank of Nigeria, Godwin Emefiele, it is shameful for Nigeria to still be importing some basic items like wheat, eggs, toothpicks and others into the country when such items ought to be produced in Nigeria.
Speaking at a news conference yesterday June 24th, Mr Emefiiele said to discourage the importation of such items, the CBN, banks and bureaux de change offices will henceforth seize to offer foreign exchange to business men and women who import such goods. According to Mr Emefiele, the move by the CBN is to encourage the production of such items in Nigeria.
"Most of you are aware of the often-quoted number of N1.3 trillion, which is what we spend on average importing rice, fish, sugar, and wheat every year. I am saying it is shameful that we have to import toothpick. I am saying that it is shameful for us to import fish in sauce canned, fish in sauce and sardine. I am saying it is shameful. Before I was born palm kernel was taken out of Nigeria and taken to another country and today we go to that country and import palm oil. It is shameful. It is shameful that items that we used to produce in this country we now begin to import them.