Fertiliser firm in Bauchi seeks N3b lifeline

THE Bauchi Fertiliser Blinding Company (BAFCO) yesterday said it was in need of N3 billion working capital to enable it produce at full capacity.

The Managing Director of the company, Alhaji Usman Lame, who made this known in an interview with the News Agency of Nigeria (NAN) in Bauchi yesterday, said the fund was needed for the purchase of raw materials, payment of members of staff salaries and maintenance of facilities.

According to him, the company is currently producing 50,000 tonnes of assorted fertilisers yearly as against the installed capacity of 100,000 tonnes yearly due to lack of working capital.

Lame gave the current workforce of the company as 33 permanent members of staff, 10 semi-permanent members of staff and between 50 to 100 casual workers during production period.

He said that the company had only one production line as against a proposed two production lines that could meet the demand of its teeming customers in all the states within the northern region.