Respite may be coming the way of Nigeria farmers as the President of the Dangote Group, Alhaji Aliko Dangote plans to crash the price of fertilizer next year.
He said this at a forum in Abuja on Monday, adding that with the reduced price of fertilizer, farmers would be able to tap into the Federal Government’s policy on economic diversification.
Dangote explained that the crash in the price of fertilizer, no doubt, will boost agricultural production and guarantee food security in the country.
According to him, about three million tonnes will be put into the market in the next one year and this will be made accessible for farmers.
“Farmers will buy fertilizers cheaper and this will boost agriculture and of course food production and security for the country,” he stated.
The foremost industrialist noted that the crash in the price of oil was a blessing in disguise, which would help the government to be more serious about diversifying into agriculture.
To him, the price of oil cannot go higher for now due to the proliferation of the product in the global market, adding, “This is the best time for Nigeria to look inward rather than waiting for oil price to go up.”
“We need to be very serious. People who are hoping that crude oil is going to go back up to around $70 and $80 per barrel, it is not just going to happen,” he said.
One of the key policies of Muhammadu Buhari led Federal Government is economic diversification into agriculture, mining and solid minerals.
Some developed countries, like France, Germany, US and UK have shown interest to invest in the country’s agricultural sector.