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Fertilizer Donation Free For Nigerian Farmers – CBN

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CBN inflation

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.

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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.

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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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