CBN ALLOCATES N100BN TWO MILLION BAGS OF FERTILISERS TO MINISTRY OF AGRICULTURE

Governor of the apex bank, Olayemi Cardoso disclosed this during a meeting with the Minister of Agriculture and Rural Development, Mohammad Abubakar, and the Minister of Agriculture and Food Security, Abubakar Kyari at the ministry’s headquarters in Abuja on Wednesday.

While speaking, Cardoso said the apex bank believed that providing support to farmers would help mitigate high food prices currently bedevilling the nation.

He said, “The CBN has veered away from direct quasi-fiscal interventions and transitioned towards leveraging conventional monetary policy tools for executing monetary policies effectively. In this light, we aim to extend our support and foster closer ties with Ministries, Departments, and Agencies (MDAs) with the mandate and expertise to undertake these critical initiatives. Consequently, we aim to enhance our partnership with the Ministry of Agriculture, bolstering your endeavours to enhance food productivity and security, ultimately curbing food inflation and fortifying our pursuit of price stability.