N476/N480 (updated 30.11.16:noon)
buying/selling naira exchange rates per USD
Wednesday, 7 September 2016

The E-wallet fertilizer policy of the Goodluck Jonathan administration is causing collateral damages to the present administration, president Muhammadu Buhari's Media aide, Garba Shehu, said on Tuesday. Shehu says that the people of Nigeria need to know why the programme which allowed farmers access to cheap fertilizers between 2014 and 2015 was scrapped by the present administration, adding that the policy was not sustainable in terms of monetary aspects.

His words:
"This government believes that Nigerians deserve to know the truth. People stole unbelievable amounts of money. The kind of money some of these ex-officials hold is itself a threat to the security of the state.

"Since it is not money earned, they feel no pain deploying just anyhow to thwart genuine and well-intentioned government efforts.

"Sadly, even that which was not stolen was wasted. Government coffers were left empty, with huge debts unpaid and unrecorded (this government is working to quantify the amount owed).

"Even the current high food prices can be traced to past deceit. For example, the previous government purchased fertilisers in 2014, worth N65 billion and left the bill unpaid.

"In 2015 the suppliers could not supply fertilisers which resulted in a low harvest, shortages and high food prices.

"This government had to pay off the debt so that the suppliers could begin to supply fertilisers again."
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