Nigeria Sovereign Investment Authority (NSIA) says the
country will take delivery of potash from Russia and Canada next week.
Uche Orji, managing director and chief executive officer
(CEO), NSIA, said this on Thursday at a press briefing on the presidential
fertiliser initiative (FPI) in Abuja.
The war in Ukraine has led to a scarcity of fertilisers
owing to a plodding supply from Russia, Belarus, and Ukraine.
Russia is the world’s number one exporter of nitrogen
fertiliser and second in phosphorus and potassium fertilisers.
Supply shortage from the country could worsen inflation in
Nigeria.
The situation has heightened global concerns over the
increasing food crisis.
But Orji said from next week, farmers would begin to access
fertilisers in the country.
“In 2022, I know one
question many of you are going to ask me is, potash difficulties because there
were headlines about potash. It was true. There was potash difficulty. About 30
per cent of the world’s potash comes from Russia and Belarus. So, when the
crisis started there was a blockade, there were sanctions and all kinds of
issues, and we couldn’t get potash,” he said.
“But now, I’m glad to report that we have solved the potash
problem. On June 3rd, the first vessel will arrive from Russia. On June 6th,
the second vessel will arrive from Canada.
“The President gave us the instruction to go and solve it,
find it wherever you can, bring it into the county. We will have enough potash
between now and the middle of June for all our needs for the year.
“Last year, we had enough to produce up to 40 per cent of
the country’s need in inventory in the warehouses, so that’s coming out.
Central bank is one of the big buyers, and they’re releasing it.”
Orji also warned those hoarding fertilisers.
He further assured farmers that the unavailability of
potash, which was the biggest problem last year, has been solved earlier
through the PFI, which seeks to drive fertiliser initiative.
“Anybody who is hoarding, it’s not fair to do that. We have
a food crisis, and there are agencies of government who are now involved in
ensuring that people release what they have. We are going to unleash a whole
bunch of supply. At the moment, we’re struggling to clear them at the ports. We
have two vessels discharging phosphate, and there’s already more in the
warehouses,” Orji said.
“So, I sense that as these things get into the market, by
the time we get into the peak application season at end of June and July, I’m
hoping that this problem will be completely solved.”
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