Nigeria, March 17 -- The Central Bank of Nigeria (CBN) has provided clarifications regarding its recent donation of 2.15 million bags of fertilisers to farmers across the country through the Federal Ministry of Agriculture and Food Security.

The CBN had on Wednesday donated fertilisers valued at over N100 billion at current market prices, aiming to support domestic agricultural production and address rising food inflation.

Inflation in Nigeria has continued to rise largely because of the high cost of food items. As of February, the country's annual inflation rate rose to 31.70 per cent from 29.90 per cent in January.

In his remark, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, said the bank is committed to price stabili...