Fertilizer donation free for Nigerian farmers – CBN

The Central Bank of Nigeria (CBN) reaffirms its commitment to supporting Nigerian farmers by donating 2.15 million bags of fertilizers to the Federal Ministry of Agriculture and Food Security, emphasizing that these resources are entirely free for all farmers across the nation.

This announcement comes in the wake of a recent disclosure by the apex bank in its Frequently Asked Questions publication. The decision to donate the fertilizers stems from a meeting between the CBN and the Minister of Agriculture and Food Security, Abubakar Kyari, highlighting a collaborative effort to bolster domestic agricultural production.

Clarifying the origin of the donation, the CBN underscores that these fertilizers are not part of a new intervention but rather sourced from existing stocks. Rather than allowing them to remain unused and risk wastage amidst escalating food inflation, the CBN opted to allocate them to support farmers nationwide.

Addressing inquiries regarding the procurement of the fertilizers, the CBN explicitly states that they were not sold to the Agriculture Ministry. Instead, they were provided as a donation to the Federal Ministry of Agriculture and Food Security, with the aim of facilitating widespread distribution to farmers at no cost.

This initiative underscores the CBN’s proactive approach to promoting agricultural development and food security in Nigeria. By providing essential inputs such as fertilizers free of charge, the bank aims to alleviate the financial burden on farmers while incentivizing increased productivity and crop yields across the country.

Through collaborative efforts between governmental agencies and strategic stakeholders, initiatives like these play a crucial role in advancing the agricultural sector, fostering economic growth, and mitigating the impact of food insecurity. As the fertilizers are distributed to farmers, they hold the potential to significantly enhance agricultural output and contribute to overall socio-economic development.

In conclusion, the CBN’s fertilizer donation initiative represents a tangible commitment to supporting Nigerian farmers and strengthening the nation’s agricultural resilience. By harnessing partnerships and leveraging existing resources, such initiatives pave the way for a more sustainable and prosperous future for the agricultural sector and the country as a whole.