FG begins fertiliser sale at N5,500 per 50kg bag

President Muhammadu Buhari has approved the payment of the outstanding N22 billion for dealers of agricultural inputs, otherwise known as agro-dealers. The approval will allow for smooth distribution of the crucial input at a rate of N5, 500 per 50 kilogramme bag, endorsed by the president.

Hitherto, farmers had lamented that the range of prices of a 50kg bag of fertilizer between N10, 000 and N12, 000 was not helpful to their effort at rising to meet the government’s avowed desire to increase the nation’s agricultural output.

Mr Kabiru Fara, National Chairman, Agro-dealers Association of Nigeria, who spoke on the new development last week said the payment of the balance of N22 billion owed by the previous government to agro-dealers would ease their challenges.

He explained that agro-dealers had been having problems with their bankers and suppliers due to the long delay in receiving money owed to them by the government.

 “The total amount is about N62 billion, a first payment of N20 billion was made and another payment of N20 billion followed about a year ago. We are grateful that the President has approved that the balance of N22 billion should be paid to agro-dealers.”

He stated that agro-dealers would use part of the money to make purchases as well as distribute the commodity, and urged the Federal Government to ensure the speedy release of the funds.

 “So, releasing our money will make the presidential initiative on fertiliser distribution easy but without that payment, which we don’t know why, it will be difficult for some of our members to buy and distribute.