Nigeria and Russia have signed an agreement on the supply of potash, a major raw material for the production of fertilizer.
The Managing Director of the Nigeria Sovereign Investment Authority (NSIA), Mr Uche Orji, signed the agreement at the Presidential Villa, Abuja on behalf of the Nigerian Government, while Mr Dmitry Konyeaev signed on behalf of the Russian company that will supply the product.
The Governor of Jigawa State, who is also the Chairman, Presidential Fertilizer Initiative, Mohammed Badaru Abubakar, said the move, which has checked the excesses of middlemen, would further boost the supply of fertilizer at an affordable rate to Nigerian farmers.
He said, “What we have just witnessed will help in stabilizing the price of NPK brand of fertilizer that we produce locally. The beauty of this deal is that it is a direct purchase, no commission agent and also because of the involvement of the two Presidents, the price is very competitive.”
The NSIA Managing Director, Uche Orji, who signed on behalf of Nigeria, said so far over 19 million bags of fertilizer had been blended by Nigeria in the last two years.
Orji, who spoke on some of the gains of the Presidential Fertilizer Initiative (PFI) programme, said, “Through the programme, fertilizer has been freely available especially for NPL 20:10:10, since 2017-2019. We have had a very successful programme so far with over 19 million bags of the product blended and sold and this chapter of our engagement is a new phase in the whole PFI programme.”
Source: Daily Trust