Made-in-Nigeria fertiliser has hit 2.22 million metric tonnes, says the Nigeria Sovereign Investment Authority (NSIA).
Managing Director of NSIA Uche Orji said this in Abuja on Monday, adding that the NSIA was making sure that farmers in the country had fertilizers all-year round.
“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,” Orji said.
“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.”
He added that, “The target retail price regime at the time was between 50 per cent and 65 per cent of the prevailing market price.
“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 150 million 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.”