The Presidential Fertilizer Initiative (PFI) has planned to produce one million metric tons of NPK in 2018, the president of Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN), Mr. Thomas Etuh, has said.
He said this yesterday at a meeting of FEPSAN registered distributors with Unity Bank of Nigeria Plc on access to finance.
Etuh explained that in 2017, PFI produced about 500,000 metric tons of NPK 20-10-10 while FEPSAN registered distributors were able to purchase about 60 percent of the fertilizers from blending plants participating in the programme at N5,000 per 50kg which they sold to farmers at N5,500 across the country.
He therefore assured Nigerian farmers that there will be adequate supply of fertilizer this year. “Very soon, off take will commence and we look forward to the distributors to ensure smooth delivery of the product to the farming communities at a better performance rate than last year.”
Earlier in his goodwill message, the general manager of Unity Bank, Bona Okhaimo, said that the bank was committed to the growth and development of the agricultural sector.
According to him, the partnership seeks to give fertilizer distributors access to affordable credit so as to boost their business activities.