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Restructuring Fertiliser Initiative for Better Output

Against the backdrop of a directive by President Muhammadu Buhari to undertake an overhaul of the Presidential Fertiliser Initiative, the Nigerian Sovereign Investment Authority saddled with the task, taking up the gauntlet, has recently gone to work, writes Emmanuel Addeh It is said that the Nigerian fertiliser industry has a blending capacity of four million tons of Nitrogen, Phosphorus and Potassium (NPK) annually and two million tons of production capacity for urea, with the capacity to employ over 250,000 people in both direct and indirect jobs across the country. However, before the implementation of the Presidential Fertiliser Initiative (PFI), only 10 per cent of the production capacities of the blending plants in operation across the country were being utilised.

Leveraging fertiliser initiative to check inflation, forex savings

NSIA, Uche Orji Unlike in advanced nations where some level of inflation is tolerable to stimulate economic activities, Nigeria’s inflationary trend is detrimental to its growth due to structural deficiency, logistic problems, and insecurity among others. Many of the factors that have fuelled Nigeria’s rising inflation are not showing any signs of receding in the short term. Combined with a revenue problem, the need for government to boost local food production spurred the implementation of the Presidential Fertiliser Initiative (PFI). FEMI ADEKOYA writes on progress made thus far. To conserve foreign exchange, the Central Bank of Nigeria (CBN) placed some products on restriction, while urging many businesses to embrace import substitution.

Breaking News | Leveraging Fertiliser Initiative To Check Inflation, Forex Savings

NSIA, Uche Orji Unlike in advanced nations where some level of inflation is tolerable to stimulate economic activities, Nigeria’s inflationary trend is detrimental to its growth due to structural deficiency, logistic problems, and insecurity among others. Many of the factors that have fuelled Nigeria’s rising inflation are not showing any signs of receding in the short term. Combined with a revenue problem, the need for government to boost local food production spurred the implementation of the Presidential Fertiliser Initiative (PFI). FEMI ADEKOYA writes on progress made thus far. To conserve foreign exchange, the Central Bank of Nigeria (CBN) placed some products on restriction, while urging many businesses to embrace import substitution.

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