Months after the Central Bank of Nigeria (CBN) halted direct intervention in the economy, the monetary authority has allocated 2.15 million bags of fertilizer valued at N100 billion to the Federal Ministry of Agriculture and Food Security for distribution to farmers.
Months after the Central Bank of Nigeria halted direct intervention in the economy, the monetary authority has allocated 2.15 million bags of fertilizer valued at N100 billion to the Federal Ministry of Agriculture and Food Security for distribution to farmers.
The apex bank, on the assumption of office, stopped direct interventions in the economy but noted that the authority was ready to partner with critical institutions to support growth. Cardoso said the Central Bank has collaborated with the Ministry of Agriculture with the shared objective of mitigating the surge in food prices and in alignment with a strategic shift towards focusing on the CBN’s fundamental mandate.
He assured that the allocation would be judiciously distributed to the intended farmers to reap the benefits of the huge gesture and, in turn, cultivate and produce more to stem the high food inflation. Bagudu made this known yesterday, during a courtesy visit by the representatives of the CAETPC to the Minister, in Abuja.
Months after the Central Bank of Nigeria halted direct intervention in the economy, the monetary authority has allocated 2.15 million bags of fertilizer valued at N100 billion to the Federal Ministry of Agriculture and Food Security for distribution to farmers. Global merchandise trade could start to show some modest gains in the first quarter of 2024 after a weak performance last year, the World Trade Organisation Goods Trade Barometer report has revealed.