CBN allocates over 2 million bags of fertilizers worth N100 billion to Nigerian farmers

The Central Bank of Nigeria (CBN) has allocated substantial fertilizers to the Ministry of Agriculture.

The allocation, totalling 2.15 million bags and valued at 100 billion naira, is part of the CBN’s plan to bolster agricultural productivity and ensure food security in Nigeria.

Recall that on July 13, 2023, President Bola Tinubu instructed the release of 225,000 metric tonnes of fertilizer to farmers.

President Tinubu also reaffirmed the CBN’s pivotal role in financing the agricultural value chain, highlighting the importance of sustained investment in the sector.