CBN Clarifies
Stance On Real Sector Interventions.
Central Bank of Nigeria has clarified that its
fertilisers donation to the Federal Ministry of Agriculture and Food Security,
last week, does not represent a resumption direct interventions in the real
sectors of the economy.
The apex bank donated 2. 15 million tonnes of assorted
fertilisers, worth over N 100 billion to the ministry last week.
Analysts had wondered if the Olayemi Cardoso
administration was going back on its earlier decision to avoid direct
interventions in the real sectors of the economy.
The CBN explained, that the donated fertilisers were the
remnants of its stock, which were blended under its previous interventions in
the agricultural sector.
According to the bank, the decision was aimed at
supporting domestic agricultural production rather than allowing the
fertilizers to remain unused and go to waste.
Sign up and receive the latest tips via email.
