NSIA, Uche Orji
Unlike in advanced nations where some level of inflation is tolerable to stimulate economic activities, Nigeria’s inflationary trend is detrimental to its growth due to structural deficiency, logistic problems, and insecurity among others. Many of the factors that have fuelled Nigeria’s rising inflation are not showing any signs of receding in the short term. Combined with a revenue problem, the need for government to boost local food production spurred the implementation of the Presidential Fertiliser Initiative (PFI). FEMI ADEKOYA writes on progress made thus far.
To conserve foreign exchange, the Central Bank of Nigeria (CBN) placed some products on restriction, while urging many businesses to embrace import substitution.
NSIA, Uche Orji Unlike in advanced nations where some level of inflation is tolerable to stimulate economic activities, Nigeria’s inflationary trend is detrimental to its growth due to structural deficiency, logistic problems, and insecurity among others. Many of the factors that have fuelled Nigeria’s rising inflation are not showing any signs of receding in the short term. Combined with a revenue problem, the need for government to boost local food production spurred the implementation of the Presidential Fertiliser Initiative (PFI). FEMI ADEKOYA writes on progress made thus far. To conserve foreign exchange, the Central Bank of Nigeria (CBN) placed some products on restriction, while urging many businesses to embrace import substitution.
EXCLUSIVE: Buhari deploys EFCC operatives to fertiliser companies
The president seeks to check fraudulent activities undermining the implementation of the presidential fertiliser initiative.
President Muhammadu Buhari has approved the deployment of operatives of the
Economic and Financial Crimes Commission (EFCC) to check the fraudulent activities undermining the implementation of the Presidential Fertiliser Initiative (PFI).
This directive was communicated via an internal memo by the Chief of Staff to the president, Ibrahim Gambari, on Tuesday.
“Kindly note that Mr president has directed the deployment of EFCC operatives to work with the Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) monitoring team to control all criminal activities undermining the implementation of the PFI,” Mr Gambari said, according to the letter exclusively obtained by PREMIUM TIMES.
NSIA achieves $350m forex savings, creates 250,000 jobs tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.