Senator Abubakar Kyari, the Minister of Agriculture, has announced that the federal government is gearing up to distribute fertilizers worth N100 billion, generously donated by the Central Bank of Nigeria (CBN).
This initiative is strategically timed to coincide with the upcoming wet season farming, aiming to bolster food security by ramping up the production of staple crops within the country.
Kyari emphasized that the Ministry of Agriculture is poised to disburse 2.15 million bags of assorted fertilizers provided by the CBN to Nigerian farmers across the nation. The distribution plan prioritizes areas where wet season farming activities have already commenced, ensuring timely support to agricultural communities.
In addition to the fertilizer allocation, Kyari revealed that the ministry has received a significant contribution of 500 tractors from the esteemed John Deere Group. This infusion of mechanized farming equipment is intended to revolutionize agricultural practices, increase productivity, and fortify food and nutrition security nationwide. Such measures align closely with President Bola Tinubu’s urgent call for heightened attention to food security concerns.
Echoing the government’s steadfast commitment to bolstering food and nutrition security, Kyari affirmed that the tractors would be made readily accessible and affordable to farmers of all scales, including smallholders, large-scale operators, and agricultural cooperatives.
Addressing past concerns regarding fertilizer donations, Kyari clarified that the previous batch was procured under a development finance program initiated during the prior administration. He cited statements from CBN Governor Yemi Cardoso, who clarified that these fertilizers were acquired before the apex bank discontinued certain intervention programs.
The CBN’s recent shift away from such interventions was further underscored last year when it ceased accepting new applications for its development finance program and instructed banks to initiate debt recovery procedures. This strategic shift aims to reposition the CBN in a more streamlined advisory capacity, supporting broader economic growth initiatives.
The urgency of such measures is highlighted by the alarming rise in food inflation, which reached 01% according to official reports in March.
Meanwhile, an estimated 16% of Nigerians face food insecurity, particularly during the impending lean season commencing in June. Through proactive initiatives like the fertilizer distribution and mechanization drive, the government aims to mitigate these challenges and secure a more resilient food system for the nation.
