President Buhari reaveals his biggest shock as a president..

President Buhari has expressed shock over how Nigeria squandered all its foreign exchange on the importation of food items

– He lamented that Nigerians abandoned agriculture and solid minerals while concentrating on oil only

– Speaking about his opposition to naira devaluation, he said countries that benefitted from currency devaluation were developed countries

President Muhammadu Buhari said the biggest shock he has had in his one year in office was the realization that Nigeria had over the years squandered all its precious foreign exchange on the importation of food items and other frivolous items including tooth picks.

Speaking to Daily Trust in brief interview to mark his administration’s first year in office, Buhari said when the price of oil fell to $40 per barrel last year, he summoned the governor of the Central Bank of Nigeria (CBN) Godwin Emefiele and asked to see what Nigerians were buying with foreign exchange.

President Muhammadu Buhari
To his surprise, most of the imports were food items.