According to Agriculture Minister Sen. Abubakar Kyari, the federal government is gearing up to commence the distribution of N100 billion worth of fertilizers donated by the Central Bank of Nigeria (CBN) in preparation for the upcoming wet season farming.
The move is part of the government’s efforts to enhance food security by boosting domestic production of staple crops. The Ministry of Agriculture will distribute 2.15 million bags of various fertilizers the CBN provides to Nigerian farmers.
Sen. Kyari stated, “We have received a donation of 2.15 million bags of assorted fertilizers from the CBN. We are in the process of taking possession of these fertilizers.”
He added, “We will commence the distribution of these fertilizers, especially in areas where wet season farming has begun.”
Additionally, the ministry received a donation of 500 tractors from the John Deere Group to promote mechanized farming, increase production, and ensure food and nutrition security. This initiative aligns with President Bola Tinubu’s emergency declaration on food security.
Sen. Kyari reiterated the government’s commitment to enhancing food and nutrition security through increased mechanization. The tractors will be accessible, available, and affordable for small, large-scale, and cooperative farmers nationwide.
Recall:
Last year, the CBN donated over two million bags of fertilizers to the Ministry of Agriculture to address food insecurity. However, this initiative faced criticism from the public, as the apex bank had earlier promised not to engage in development finance programs.
CBN Governor Yemi Cardoso clarified that the fertilizers were purchased during the previous administration when the development finance program was still active. The CBN halted new applications for its development finance program last year and directed banks to begin recovering outstanding debts.
Food inflation in Nigeria reached 01% in March, with an estimated 16% of Nigerians experiencing food insecurity during the lean season starting in June.
