Share!
Nigeria has seen its global fertiliser imports decline by at least 40 per cent on the back of the Presidential Fertiliser Initiative (PFI) instituted in 2016 and increasing private investments in the sector.
The industry has also attracted lot of investments from fertiliser heavyweights such as Indorama, Dangote, Notore and OCP Africa.The investments into the industry are estimated to be above $8 billion.
Before now, companies imported blended fertiliser. Since 2021, lot of fertiliser companies now procure the four constituent raw materials for NPK fertiliser – urea, limestone granules (LSG) which are sourced locally, while Diammonium Phosphate (DAP) imported from Morocco, and Muriate of Potash (MOP) are sourced from Europe – and blend locally to produce NPK at reduced cost.
Also Read: Fed Govt earns N3.63b from Postal Services
Data from the International Trade Centre (ITC) shows that since the initiative kick-started in 2016, Nigeria’s import of fertiliser has been on a steady decline. According to ITC ‘s Trade Map, Nigeria imported supply for fertiliser production was worth $208,066,000 in 2017, $148,542,000 in 2018, $38,713,000 in 2019, 250,151,000 in 2020 and $208,066,000 in 2021.
In 2017, Morocco exported $116,244,000 worth of fertiliser materials to Nigeria. It exported $92,176,000 worth in 2018, $ 14,661,000 in 2019, $ 129,774,000 in 2020 and $107,735,000 in 2021.
No related posts.
