President Muhammadu Buhari has attributed Nigeria’s rising prominence as Africa’s fertiliser powerhouse to his regime policies.

The president made this known while receiving the Executive Committee of Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) at the State House, Abuja on Tuesday.

“‘With our over 70 blending plants operating, Nigeria is on its way to becoming Africa’s fertiliser powerhouse. And with our mega Urea production facilities, Nigeria is definitely a global player in the Urea space,” he said.

The president said this achievement in a very short period of time, had ensured a steady flow of investments to the sector from the private sector.

While appreciating those who have invested and continue to invest in the sector, the president said they were “making profits and bringing prosperity to millions of Nigerians working in the agricultural value chain.”

In his remarks, Central Bank of Nigeria Governor, Godwin Emefiele, said fertiliser remained a key input to achieving food security.

He said the apex bank had continued to place great importance on the availability and accessibility of fertilisers by farmers.

Mr Emefiele revealed that a total of over N114.09 billion had been disbursed to support the fertiliser industry in the last five years.

He explained that the interventions were long-term loans at concessionary interest rates to support domestic blending and distribution across the country.

Mr Emefiele said the CBN is working with industry heavyweights like Dangote and Indorama, to ensure that they sell Urea at discounted prices to the blending plants to ensure that the prices of fertiliser are moderated in the market.

(NAN)