The Central Bank of Nigeria (CBN) clarified that the recent donation of 2.15 million bags of fertilisers to farmers is not a new intervention but a way to utilize existing stocks.
The fertilisers, valued at over N100 billion, were donated to boost food production and stabilize prices through the Ministry of Agriculture and Food Security.
In a statement, the CBN explained that it is leveraging its remaining fertiliser stock, originally blended under previous agricultural interventions, to support domestic agricultural production. This decision aims to prevent the fertilisers from going to waste and actively contribute to national food security efforts.
Source: Daily Trust