The Acting Director, Chartered Institute of Logistics and Transport (CILT) Mr. Paul Ndibe has expressed fear that the directive by president Muhammadu Buhari to the Central Bank of Nigeria (CBN) not to issue forex exchange for importation of food into the country may lead to inflation.
It will be recalled that in a statement issued on Tuesday, Presidential spokesman, by Garba Shehu, said the president had asked the CBN to stop issuing foreign exchange for food importation so as to stimulate the growth of agriculture and to ensure food security.
Reacting to this, Ndibe told Shipping Position Daily in Lagos on that he is cannot say if adequate arrangements have been made for purposes of reducing the shortfalls in the food supply on these importations.
“It is a difficult situation we have found ourselves and I don’t know what informed government policies on this. Secondly, I don’t know for sure if adequate arrangements have been made for purposes of reducing the shortfalls in the food supply on these importations. Because if there are no such measures and the importation is hampered by the non availability of Forex there will be unavailability of food and inflation will set in”, he argued.
Ndibe however urged the federal government to also aid the farmers to ensure that there are adequate materials and also there is reserve of the food before they implement this policy.
“I am making this comment from the background of logistics and transport professionals because if you are thinking of food supply, there is no way you will not think of the issue of distribution”
“Now, I am aware that some states are into agriculture but not in all respect so one will expect that the government had looked into the effect this will have aid the farmers to ensure that there are adequate materials, ensure that also there is reserve of the food before they implement this. They should also ensure the between the gestation period of those goods its prices do not affect the economy otherwise there would be inflation with its consequences”
Ndibe however appealed to the federal government to relax the measure and give proper notice farmers before implementing the policy.
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