…as FG secures £995m for mechanization hubs in 774 LGAs
The Central Bank of Nigeria (CBN) has allocated a total of 2.15 million bags of fertilizer worth about N100b (One hundred billion naira) to the Ministry of Agriculture for onward distribution to farmers
It would be recalled that President Tinubu had earlier on July 13th, 2023 directed the release of 225,000 metric tonnes of fertilizer to farmers.
He also added that the Central Bank of Nigeria would continue to play a major role of funding the agricultural value chain.
Meanwhile, President Tinubu’s Administration through the Ministry of Agriculture has secured the sum of £995m (Nine Hundred and ninety five pounds) to establish Mechanization Hubs across the 774 LGAs in Nigeria.
This is aimed at boosting agriculture across the country.
It was gathered that the Ministry of Agriculture will supervise this initiative.
The Federal Government through the Ministry of Agriculture will also be working directly with State Governors to ensure success of this initiative.