Presidential Fertilizers Initiative Produces 4,000 Metric Tonnes – Presidency

The Presidential Fertilizers Initiative of the Buhari Administration has started yielding results, with the production of more than 4,000 metric tonnes of locally-blended fertilizers in the first week of operation.
This was contained in a statement by the senior special assistant to the acting President, Yemi Osinbajo, on media and publicity, Laolu Akande.
Akande recalled that the initiative was approved by President Muhammadu Buhari in December last, with the aim of achieving local production of one million metric tonnes of blended Nitrogen, Phosphorous and Potassium (NPK) Fertilizers for the 2017 wet season farming.
He recalled also that before December 2016, Nigeria’s stock of blended Fertilizers was shipped into the country as fully-finished products, even though Urea and Limestone, which constitute roughly two-thirds of the component of each bag, are available locally.
“The objective of the Presidential Initiative is to procure the 4 constituent raw materials for NPK Fertilizers – locally-sourced Urea, locally-sourced Limestone granules (LSG), Diammonium Phosphate (DAP) imported from Morocco, and Muriate of Potash (MOP) sourced from Europe – and blend these locally to produce NPK Fertilizers at a much reduced cost.
“The finished products will be delivered to Nigeria’s farmers at a starting price of about ₦5,500 per bag, compared to the ₦8,000 – ₦9,000 cost of imported fertilizers.
“The Presidential Fertilizers Initiative will achieve the following:
1. Stimulate local production of NPK Fertilizers by resuscitating moribund fertilizers plants, and reviving the local blending Fertilizers industry
2. Make Fertilizers available to Nigerian farmers at affordable prices and in time for the 2017 wet season farming,
3. Result in projected savings of US$200 million in foreign exchange, and ₦60 billion in budgetary provisions for Fertilizers subsidy.
4. Enhance food security as a result of the expected increase in food production
5. Reduce food-induced inflation and stimulation of economic activities across the agriculture value chain
6. Create thousands of direct and indirect jobs,
“The Presidential Fertilizers Initiative is being executed by the Nigeria Sovereign Investment Authority (NSIA) through a Special Purpose Vehicle that will roll out the one million tonnes of NPK Fertilizers in 5 batches of 200,000 metric tonnes each.”
Akande said that production of the first batch is expected to be completed by the end of March.
“Beyond the broader goal of ensuring food security for the country by providing high-grade fertilizers to enhance harvest in the 2017 farming season, the Buhari Administration is by this initiative reinforcing its commitment to reviving and diversifying the economy, and creating growth, through a focus on agriculture.” [myad]