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Nigeria Now Has 48 Active Fertiliser Blending Plants –CBN Gov, Emefiele

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said Nigeria now has 48 active fertiliser blending plants. According to him, there has been a significant increase in Nigeria’s fertiliser blending capacity, saying the country produced over 35 million bags of blended fertiliser in the last five years. Speaking with journalists in Lagos, Emefiele said, “I am delighted to note that the continuous support of Mr President has resulted in a significant increase in our nation’s blending capacity from seven plants in 2015 to over 48 active fertilizer blending plants today. “Indeed, during the past five years, over 35 million bags of blended fertilizer have been produced in Nigeria. Consequently, our import bills on fertilizer have not only declined significantly but we are also witnessing rising investment in the fertilizer industry such as the Dangote Fertiliser.” Furthermore, the apex bank governor, said Nigeria’s agricultural sector has increased its performance and contribution to the country’s Gross Domestic Product (GDP). “The agricultural sector has increased its performance and contribution to growth. The last GDP report by the National Bureau of Statistics indicated that the agricultural sector accounted for about 27 per cent of the growth is a testament to the present support to this sector. “Let me stress that this fertilizer plant is timely when one considers the recent development in the global market where prices of fertilizers and crude oil spike by over 30 per cent following the Russian-Ukraine war,” Emefiele added. Also, he said the nation has become self-sufficient in urea production and has become the leading producer on the African continent.

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