Friday, 27th May 2022
<To guardian.ng
Search

Buhari stops Nigeria’s Central Bank from issuing foreign exchange for food imports

By CNBC
20 September 2020   |   7:13 am
These are trying times for Nigeria's economy, as an expected recession means the government has to take pro-active steps to mitigate the impact of the recession and recover in the shortest period. Meanwhile, President Buhari has asked the Central bank of Nigeria to stop issuing foreign exchange for food and fertilisers imports. Andrew Nevin, Partner and Chief Economist at PwC Nigeria joins CNBC Africa’s Kenneth Igbomor to assess the state of the Nigerian economy.

Related

7 Aug 2021
In Latvia's capital, a pasta order comes in and a robotic arm springs into action at the Roboeatz eatery. Within 5 minutes, a piping hot plate is ready. Roboeatz aims to revolutionise the fast food industry with its innovative use of technology.
15 Aug 2021
When Bangladesh shut down for more than two months last year during its first Covid outbreak, hundreds of charities, civic groups and political parties gave out food, cash, masks and sanitiser to those who had lost their jobs. But coronavirus fatigue has set in and people have become less willing to finance the goodwill as the pandemic drags on.
13 Aug 2021
Assembled from old household items, the Delta robot has been delivering food and cheer to residents in Surabaya, Indonesia.
17 Aug 2021
The Cuban government distributes food donated by other countries as the island deals with severe food and medicine shortages amid its worst economic crisis in 30 years.
20 Aug 2021
When Luis Diaz retired, he was unable to feed his family by relying solely on the food parcels provided by the government at subsidized prices, so he and his friends decided to grow their own. Eight years of recession and four years of hyperinflation have decimated Venezuela’s economy that has lost 80 percent of its value since 2014 leading to regular shortages of basic necessities.
1 Sep 2021
He was once a minister in Afghanistan but quit, fed up with the corruption. Now in Germany, Sayed Sadaat is making a living delivering meals on his bicycle. Working six hours on weekdays and ten hours a day on the weekend, Sadaat shuttles pizzas and other orders to customers, clad in his distinctive orange uniform and large square backpack.
16 Sep 2021
US startup Bond Pet Foods is hoping to remake the pet food industry by growing nutritional chow in a lab. Most pet food includes animal protein, which requires the slaughter of animals and is ultimately a source of planet-warming gases. Rich Kelleman's Colorado-based enterprise, however, is aiming to sidestep both pitfalls by making those same proteins in a biotech process.
25 Sep 2021
In the first edition of our new fact-checking show Truth or Fake, we focus on Afghanistan. A photo purportedly showing the new Afghan central bank chief has gone viral on social media; we show you how our Observers team debunked the image. Meanwhile, we demonstrate how widely shared images of alleged recent violence in Afghanistan's Panjshir Valley, attributed to the Taliban, actually come from a 2018 film.
30 Sep 2021
The price of electricity in Spain has skyrocketed in recent months, leaving some consumers with difficult choices to make about their spending. The Spanish government has announced measures including a VAT cut and a windfall tax on energy company profits to try to combat the price increases, which have been triggered by the rising price of gas. Also today, the troubled Chinese property developer Evergrande faces a major debt deadline.
16 Oct 2021
Exactly 34 years ago today, the charismatic Pan-Africanist and Burkina Faso's then President, Thomas Sankara, was shot dead aged 37 by soldiers during a coup on 15 October 1987. Four years before his assassination with 12 others, Sankara and his close friend, Blaise Compaoré, staged a coup that brought them to power. This is the story of how he shaped Burkina Faso decades after his assassination.
29 Oct 2021
The World Food Programme says it urgently needs funds or it may have to cut food rations to more than 500,000 people in Nigeria's conflict-ravaged north-east.
27 Oct 2021
Meet the Nigerian startups that are digitizing the Nigerian food supply chain, helping merchants navigate high food inflation and avoid crowded markets during the COVID-19 pandemic. Vendease and Sabi have created digital marketplaces that allow wholesalers, shopkeepers and restauranteurs to purchase directly from farmers and manufacturers at more affordable rates.