Despite various measures to encourage its local production, a total of N116.5 billion ($247.91 million) fertiliser was imported into the country in the last one year. The import was increased by $37.71 million in 2019 to $247.91 million or 84.4 per cent in 2020.
The Federal Government had planned to save $1.2 billion annually when it was discovered that the country’s plants had the capacity to produce over four million tonnes Nitrogen, Phosphorus and Po tassium (NPK ) fertiliser annually, while highest quantity being utilised by farmers was 1.5 million tonnes. However, only N164 billion ($350 million) had been saved from payments on subsidy and import substitution through the implementation of the Presidential Fertiliser Initiative (PFI)…
More details through:
Leave a Reply.
News Archive from before July 2018