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Nairaland Forum / Nairaland / General / Agriculture / Nigeria’s Fertiliser Production Hits 2.22m Metric Tonnes- NSIA (272 Views)
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Nigeria’s Fertiliser Production Hits 2.22m Metric Tonnes- NSIA by alfanio(m): 7:59am On Apr 03, 2018 |
The Nigeria Sovereign Investment Authority (NSIA),
says its investment in promoting local farming is
yielding results as production of made-in-Nigeria
fertiliser has presently hit 2.22 million metric tonnes.
fertlizers
The Managing Director of NSIA, Mr Uche Orji in an
interview on Monday in Abuja, said NSIA’s
investment was to make fertiliser affordable all year
round to farmers.
“Prior to Dec. 2016, Nigeria’s stock of blended
Fertiliser 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.
“Knowing this, President Muhammadu Buhari
approved a Presidential Fertiliser Initiative for the
local production of blended NPK 20:20:10 Fertiliser.
“The objective of the project is to deliver
commercially significant quantities of affordable and
consistently high-quality fertiliser at the right price
and in time to Nigeria’s over 500,000 farmers across
the country.
“The target retail price regime at the time was
between 50 per cent and 65 per cent of the prevailing
market price,’’ he said.
Orji said that after one year of running the
programme, NSIA noted that import of finished
fertiliser had reduced drastically.
“For the 2017 wet season, it is estimated that about
N60 billion from the 2017 budgetary provisions for
fertiliser was saved, while another saving of
150million dollars was conserved from foreign
exchange window.
“To date, the programme has contributed to the
resuscitation of 14 moribund blending plants, which
represents 55 per cent of total installed capacity in
Nigeria.
“Also, more than six million bags of 50kg NPK
20:10:10 fertiliser has been produced locally, which
have been distributed to farmers.
“The success of the Presidential Fertiliser Initiative is
evidence enough that Nigeria can sustainably produce
fertilisers locally at a reasonable price without
subsidy. With the right model, any constraint can be
addressed,’’ he said.
Orji said that as a result of its investment in fertiliser
production, several thousand jobs had been created
and the nation had saved a significant amount in
foreign exchange and subsidy payments.
He reiterated that the NSIA had about 2.2 billion
dollars in assets as at Dec. 31, 2017.
The Presidential Fertiliser Initiative is an initiative of
President Muhammadu Buhari borne out of desire to
end fertiliser importation and the attendant impact on
the country’s foreign exchange reserves.
It was designed to stimulate significant economic
activities across the agriculture value chain and
catalyse growth by meeting the fertiliser demand of
farmers during the wet farming season.
Ahead of the 2017 farming season, Buhari
inaugurated a special committee to look into and
bridge the gaps in the production and distribution of
fertilizer in Nigeria.
The committee comprised of the Governor of Jigawa
State as Chairman, while the Managing Director,
Nigeria National Petroleum Company and the Minister
for Agriculture and Rural Development as members.
Other members include the Chief of Staff to the
President, Central Bank of Nigeria (CBN) Governor
and President of the Fertiliser Producers and
Suppliers Association of Nigeria (FEPSAN).
The NSIA was invited to provide technical support, as
well as serve as managers of the initiative
subsequent to the committee’s inauguration.
NSIA has invested more than 286.4 million dollars in
the fertilizer blending project in partnership with
FEPSAN. (NAN) |
Re: Nigeria’s Fertiliser Production Hits 2.22m Metric Tonnes- NSIA by psucc(m): 8:10am On Apr 03, 2018 |
That is why I love this government. They have a higher output of virtually everything; rice, cassava, electricity, etc. But none of these is affordable to the public. Please who knows whether Ogbeh have exported the second tranche of yam to the UK. He spent more on media than what he actually sold the yam |
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Cashew Nut, Soya Beans , Bitter Kola For Sale / Learn And Earn From Poultry Rearing / Day Old Chick And Point Of Lay!!
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