The Federal Executive Council (FEC) has approved a memo banning foreigners or their agents from purchasing agricultural commodities at farm gates across the country.
Minister of Industry, Trade and Investment, Niyi Adebayo, stated this when he briefed State House correspondents on the outcome of the Council meeting, presided over by Vice-President Yemi Osinbajo, on Wednesday in Abuja.
He said the approval was necessitated by the need for government to establish an appropriate mechanism that would protect local farmers in terms of achieving the right prices for their goods and commodities.
Adebayo added that the approval was also meant to ensure that the farmers have the appropriate incentives and the needed encouragement to guarantee their continued participation in the farming business.
“I presented two memos to the Federal Executive Council. One of the memos was the promotion of agribusiness in Nigeria through right farm gate pricing and ban on foreigners or…
Source: Vanguard Newspaper