The Federal Government of Nigeria is preparing to commence the distribution of fertilisers valued at N100 billion, a donation made earlier by the Central Bank of Nigeria (CBN). This initiative aims to support farmers in preparation for the upcoming wet-season farming activities.
Sen. Abubakar Kyari, the Minister of Agriculture, stated that the Federal Government is enhancing food security by boosting the domestic production of staple crops. The ministry will distribute 2.15 million bags of various fertilisers, provided by the CBN, to Nigerian farmers across the country.
“We are in the process of taking possession of those fertilisers,” Kyari said. “We will start the distribution, especially in areas where wet-season farming has begun.”
In addition to the fertiliser donation, the Ministry of Agriculture has received a contribution of 500 tractors from the John Deere Group. This donation is aimed at promoting mechanised farming, increasing production, and ensuring food and nutrition security in the country.
Kyari explained that this initiative is designed to stimulate farming activities and enhance nutrition security, aligning with President Bola Tinubu’s emergency declaration on food security. The Federal Government remains committed to boosting food and nutrition security through increased mechanisation.
The minister assured that the tractors would be accessible, available, and affordable for small, large-scale, and cooperative farmers nationwide.
Last year, the CBN donated over two million bags of fertiliser to the Ministry of Agriculture as part of efforts to combat food insecurity. However, this initiative was criticised by some members of the public as part of a development finance programme that the apex bank had earlier promised not to engage in.
The Governor of the CBN, Yemi Cardoso, later clarified that the fertilisers were purchased during the previous administration when the development finance programme was still being implemented. The governor had previously warned during the CIBN dinner that the apex bank cannot implement these interventions, which have gulped about N10 trillion.
In response, the CBN halted new applications for its development finance programme and instructed banks to begin recovering outstanding debts. The bank stated, “Accordingly, the CBN would be moving into more limited policy advisory roles that support economic growth.”
Food inflation in Nigeria has reached a staggering 51%, according to the official report in March, with an estimated 16% of Nigerians being food insecure during the lean season beginning in June.