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March 14, 2024 CBN Allocates N100bn, Two Million Bags Of Fertilizers To Ministry Of Agriculture

CBN Allocates N100bn, Two Million Bags Of Fertilizers To Ministry Of Agriculture

The Central Bank of Nigeria has approved the allocation of 2.15 million bags of fertilizers worth over 100 billion Naira to the Federal Ministry of Agriculture and Food Security.

CBN Governor, Olayemi Cardoso disclosed this in a recent visit to Minister of Agriculture and Food Security Abubakar Kyari in Abuja.

The move is in line with the apex bank’s drive to maintain price stability and address inflation.

He asserted that CBN will continue to work hand in hand with ministries, departments, and agencies that bear the mandate and expertise to undertake critical initiatives.

The Minister of Agriculture, Abubakar Kyari, expressed gratitude, noting that fertilizer constitutes the majority of the cost of inputs in any agricultural production.

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