Presidential Fertilizer Initiative to produce 200,000 MT by month end

The plan by the Federal Government to diversify the economy and reduce imports got a massive boost as the Presidential Fertilizer Initiative started off on a promising note with the production of more than 4,000 metric tonnes of locally-blended fertilizer in the first week of operation.

Executed by the Nigeria Sovereign Investment Authority (NSIA) through a Special Purpose Vehicle, the initiative would roll out one million tonnes of NPK Fertilizer in five batches of 200,000 metric tonnes each. It is expected that the initiative would lead to savings of $200 million in foreign exchange and N60 billion in budgetary provisions for fertilizer subsidy while also creating thousands of jobs.

Production of the first batch is expected to be completed by the end of March.


Mr. Laolu Akande, Senior Special Assistant to the Acting President on Media and Publicity, who disclosed this in a statement on Monday in Abuja said the initiative which was approved by President Muhammadu Buhari in December 2016 has started to yield positive results.

The statement noted that this is the first step in the effort to achieve the mandate of production of one million metric tonnes of blended nitrogen, phosphorous and potassium (NPK) fertilizer for the 2017 wet season farming.

If the plan becomes a reality, it would be a welcome departure from the practice of importing blended fertilizer as fully-finished products. The initiative plans to take advantage of the abundant urea and limestone in the country which constitutes roughly two-thirds of the component of each bag of fertilizer.

By sourcing urea and limestone granules locally and importing Diammonium Phosphate (DAP) from Morocco and Muriate of Potash (MOP) from Europe, local blending of these raw materials will result in production of NPK Fertilizer at a much reduced cost of about N5,500 per bag, compared with the nearly N9,000 cost of imported fertilizer.

Beyond the broader goal of ensuring food security for the country by providing high-grade fertilizer 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.

The Presidential Fertilizer Initiative is expected to stimulate local production of NPK Fertilizer by resuscitating moribund fertilizer plants, and reviving the local blending Fertiliser industry.


Comments

Post a Comment

Popular posts from this blog

Agric forum to encourage greater technology use by women

Image
Organizers of a one-day agricultural forum for women in Benin, the Edo State capital, have said the event will focus on increasing the awareness of available agricultural and outreach technologies for women in agriculture. The forum which will be anchored by Market Development Programme in the Niger Delta (MADE) with funding from UK Aid, is collaborating with Markets II, funded by USAID and Foundation for Partnership Initiatives in the Niger Delta, PIND and the Edo State Cooperative Farmers’ Agency is being held for womenas part of activities to mark this year’s International Women’s Day. Mr. Fidelis Ekom, MADE’s Communications and Advocacy Manager, in a statement at the weekend said the forum also seeks to facilitate mindset change for women in the adoption of modern technologies and to facilitate engagement between women in agriculture and relevant value chain actors. Ekom said the forum will bring together women farmers in aquaculture, cassava, palm oil, poultry, hon
Read more

7 FEPSAN members to produce 1m tonnes under Presidential Fertiliser Initiative

Image
Seven active blending companies within the Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) have been revived and are among the 1st of five batches that would produce 1 million tonnes of fertiliser under the Presidential Fertiliser Initiative, Thomas Etuh, President of FEPSAN has said. Etuh who disclosed this while speaking on Presidential Fertiliser Initiative noted that most of the plants owned by FEPSAN members are being revived after being dormant for over a decade. He expressed the hope that more plants would join the initiative before the end of April “Some of the blending plants which have already been supplied with raw materials including phosphate from Morocco and are blending include Fertiliser and Chemicals Ltd, Kaduna, producing 300,000 metric tonnes; Al-Yuma Fertilizer Company (300,000 metric tonnes) in Madobi-Kano; Kano Agricultural Supply Company, supplying 15 trailers daily and Golden Fertiliser based in Lagos. “Others blending plants ha
Read more

Saudi investors identify Kwara as host for proposed Agric City

Image
In a move that will further boost food security in Nigeria and contribute to the diversification agenda of the government, Zain Al-abdin Group, an investment company based in Saudi Arabia, has announced plans to set up a multi-purpose Agric City in Kwara State. Speaking to newsmen at the end of his visit to the Kwara State Governor, Alhaji Abdulfatah Ahmed in Ilorin, Zain Al-Abdin Nafawi, Chairman of Zain Al-abdin Group said the city or settlement will comprise a cluster of farms specialising in cultivation, processing and export of rice, maize and vegetables. Alhaji Abdulfatah Ahmed, Governor, Kwara State   Governor Ahmed in his welcome speech to the Saudi delegation noted that the multimillion dollar investment is in line with the state government’s plan to broaden the state’s economy, feed the people and provide feed stock for industries. He expressed delight at the decision of the Saudi group to invest in Kwara State. Nafawi who led the delegation including other
Read more