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Fertilizer donation free for Nigerian farmers – CBN

The Central Bank of Nigeria has insisted that its 2.15
million bags of fertilizers donated to the Federal Ministry of Agriculture and
Food Security are free for all Nigerian farmers.

 

The apex bank disclosed this in its Frequently Asked
Questions, published over the weekend.

 

Recall that barely a week ago, the CBN announced the
donation after a meeting with the Minister of Agriculture and Food Security,
Abubakar Kyari.

 

It explained that the donation is not a new intervention but
from remnants of its stocks.

 

The banker’s bank noted that the decision aims to support
domestic agricultural production rather than allow the fertilizers to remain
unused and go to waste amid rising food inflation.

 

Responding to the question of whether the fertilizers were
sold to the Agriculture Ministry and at what price, it said:

 

“No, the fertilizers were not sold; they were a donation to
the Federal Ministry of Agriculture and Food Security.

 

“The fertilizers are donations from the CBN to Nigerian
farmers, so they will be distributed free of charge to farmers across the
country.”

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