New $1.3bn fertilizer plant to be commissioned soon, says Buhari - Uju Ayalogu's Blog for News, Reviews, Articles and More

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Thursday, 25 March 2021

New $1.3bn fertilizer plant to be commissioned soon, says Buhari

 

New $1.3bn fertilizer plant to be commissioned soon, says Buhari

…connects neglect of rural areas to insecurity


President Muhammadu Buhari has said a new basic chemicals platform worth $1.3b that will produce ammonia and fertilizers in Nigeria will be ready for commissioning in the coming months.



In a release made available to newsmen Thursday by his spokesman, Femi Adesina, the President disclosed this while speaking at an audience with Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN)



Though the President has yet to disclose the location of the project in the country, he said the new plant will be built in partnership with the Kingdom of Morocco.



According to the President, the King of Morocco and himself agreed to extend the current phosphate supply agreement between the Morocco and Nigeria as they both believe that in order to consolidate and expand on the successes recorded thus far, the two countries must secure raw material supplies to their blenders.



He said: ‘‘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.”



Buhari 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.


READ ALSO:    FG Tenders $1.3m Cash Retrieved From Presidential Panel Member’s Home


READ ALSO:     Insecurity: Masari, Tambuwal, Matawalle Seek EU, UN, Others’ Assistance

   

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