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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