New $1.3b fertiliser plant coming, Presidency confirms
Speaking yesterday with the leadership of the Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN), led by Thomas Etuh, in Abuja, he said the new plant would be built in partnership with the Kingdom of Morocco.
His words: “His Majesty, the king of Morocco and I have agreed to extend the current phosphate supply agreement between the Kingdom of Morocco and Nigeria.
“We both believe that to consolidate and expand on the successes recorded thus far, we must secure raw material supplies to our blenders.
“Furthermore, to improve the balance of trade between Nigeria and Morocco, the two countries have signed an agreement to develop a $1.3 billion basic chemicals platform in Nigeria that will produce ammonia, phosphoric acid, sulphuric acid, and various nitrogen, phosphorus, and potassium (NPK) and diammonium phosphate (DAP) fertilisers using Nigeria’s gas reserves.”
The President added that the new plant, when completed, would complement the existing Dangote and Indorama chemicals facilities, which produce urea, ammonia, and other industrial raw materials.
“When we combine these projects with the existing 44 blending plants, Nigeria will indeed become a regional and global fertiliser powerhouse,” he enthused.
Buhari lauded the association and members for their faith in the country during the recessionary period and COVID-19 lockdowns.
He said increased investments in the rural areas were a strong factor in tackling some of the security issues the country has been witnessing, predicting that Nigeria would witness unprecedented prosperity with sustained investments in peace-building in the local communities.
The President assured of the disposition of the Federal Government towards providing a favourable investment climate in the country, thanking the Moroccan for partnering with his administration towards ending fertiliser scarcity in the country.
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