How NSIA saves $350m on fertilizer subsidy

NSIA saves N133bn on fertilizer subsidy

NSIA saves $350m on fertilizer subsidy     The Nigerian Sovereign Investment Authority (NSIA) has saved $350 million (about N133 billion) by cutting subsidy payments and import substitution after it began implementing the Presidential Fertilizer Initiative. In a statement by the Authority, after four years of the PFI, the Presidency approved its restructuring, starting this year. NSIA said the PFI has delivered 30 million bags of NPK 20:10:10 fertilizer reducing the price from over N10,000 to under N5,500. qually, 41 blending plants have been revived from just four earlier and…

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Fertilizer producers hail presidency over food, fertiliser importation ban

fertiliser and fertilizer

The Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) has commended President Muhammadu Buhari for showing solidarity with local producers of fertiliser by banning importers of the item as well as some food items from accessing doallrs to bring them into the country. In a press statement on Friday, Thomas Etuh, president of the association lauded the federal government for re-emphasising the need to sustain the ban placed on the importation of fertiliser and some staple food items into Nigeria. He said the presidential pronouncement is a demonstration of the…

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