₦airaland Forum

Nigeria has secured sufficient fertilizer supplies for the 2026 wet farming season and saved about ₦61.58 billion through early procurement of raw materials, despite growing global disruptions affecting fertilizer markets.

PFI NPK Limited, the implementation vehicle for the Presidential Fertilizer Initiative under the Ministry of Finance Incorporated (MOFI), said it had secured the country’s fertilizer supply months ahead of the planting season, shielding farmers from potential shortages and price hikes.

According to the company’s 2026 first-quarter procurement records, nine vessels carrying 407,304 metric tonnes of fertilizer raw materials were secured. Combined with existing stock, a total of 534,219 metric tonnes is available for NPK fertilizer production nationwide.

The company said the strategy yielded savings of $43.99 million, equivalent to approximately ₦61.58 billion, compared with current international market prices.

As of mid-April 2026, more than 323,109 metric tonnes of raw materials had been supplied to blending plants across the country, while over 198,264 metric tonnes had already been distributed ahead of peak planting activities.

Director of PFI NPK Limited, Dr. Armstrong Ume Takang, said the early procurement decision was aimed at protecting Nigeria from external market shocks.

“We took a deliberate decision to move early by securing supply, locking in pricing, and putting the necessary financial arrangements in place. That foresight has ensured Nigeria is not exposed to the disruptions currently affecting global fertilizer markets,” he said.

Dr. Takang added that the intervention was focused on ensuring farmers have access to fertilizer at affordable prices when needed.

PFI NPK supplies raw materials to 94 blending plants registered under the Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN), supporting local fertilizer production and strengthening food security efforts across the country.

Source: https://radionigeria.gov.ng/

On paper, but in reality? Savings don't exist in this regime.