Home Business Why Central Bank of Nigeria allocated 2.15m bags of fertiliser to Ministry
BusinessNews

Why Central Bank of Nigeria allocated 2.15m bags of fertiliser to Ministry

Share
CBN logo
Share

By Chioma Obinagwam

Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has announced the allocation of 2.15 million bags of fertiliser, valued at over 100 billion naira, to the Ministry of Agriculture and Food Security.

 

Confiance News gathered from the official X handle of the CBN.

 

The CBN governor, Olayemi Cardoso said the Central Bank’s fertiliser contribution aims to amplify food production capabilities and foster price stabilization within the agricultural sector.

 

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.”

 

“My team and I reiterate our unwavering commitment to prioritising price stability and instilling confidence in the Nigerian economy by upholding consumer price stability and ensuring a balanced foreign exchange market,” he continued.

 

Cardoso stresses the critical need to address food inflation as a pivotal aspect of managing headline inflation rates.

Please follow and like us:
Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Start your career with NNPC Limited

Start your career with NNPC Limited
Start your career with NNPC Limited

Member

Don't Miss

How creation of flood insurance can reduce risks

Please follow and like us:

How publisher of The Eagle Online became president of Media Cooperative Society

The publisher of The Eagle On-line, Dotun Oladipo, is the reigning president of Innovative Media Partners Cooperative Multipurpose Society...

Related Articles

How creation of flood insurance can reduce risks

Please follow and like us:

How publisher of The Eagle Online became president of Media Cooperative Society

The publisher of The Eagle On-line, Dotun Oladipo, is the reigning president...

‘How reliable are the public agencies involved?’ Netizen reacts to Union Bank’s Fire drill

Netizens raises concerns over the reliability of public agencies in real life...

Reactions as Alex Iwobi releases new single

By Chioma Obinagwam British-Nigerian professional footballer, Alex Iwobi, has released a new...

Advertisements