The Central Bank of Nigeria has reaffirmed its commitment to supporting Nigerian farmers by donating 2.15 million bags of fertilizers to the Federal Ministry of Agriculture and Food Security. In a recent announcement, the apex bank clarified that these fertilizers, which are from its existing stocks, are completely free for all Nigerian farmers.
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The decision, made public in the bank’s Frequently Asked Questions, follows a meeting with the Minister of Agriculture and Food Security, Abubakar Kyari, just a week ago. Emphasizing that this donation is not a new intervention but a utilization of surplus stocks, the bank aims to bolster domestic agricultural production amidst escalating food inflation.
Addressing concerns about the sale of the fertilizers to the Agriculture Ministry, the Central Bank stated unequivocally that they were not sold but rather provided as a donation. The fertilizers are intended to be distributed free of charge to farmers across the nation, ensuring equitable access to vital agricultural inputs.
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