CEM REPORT | In a move to boost food production and prevent shortfall in output from fertiliser plants, Nigeria has partnered with Russia and Canada to import 105,000 tonnes fertilizer raw material, potash.
This was disclosed by the Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority (NSIA), Uche Orji, during a ministerial press briefing at State House, Abuja.
According to Reuters, the expected Russian and Canadian potassium used for blending fertiliser is also part of efforts to ramp up production of the commodity in time for use by farmers in the current farming season, Orji said.
He added that potassium was expected from Russia and Canada on June 3 and June 6 respectively.
“We have a total of 105,000 metric tonnes of potash coming into the country. Subsequently, more supplies will come from Russia because it saves us time for the vessels to come in than from central Canada.
“Nigeria plans to buy 35,000 tonnes from Russia with a June 3 delivery date. The rest is due to come from Canada on June 6.’’
He further said the importation of potassium was possible despite the ongoing Russia-Ukraine war because fertilizer is excluded from the ban in terms of doing business with Russia.
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Recall that earlier in April 2022, CEM reported that the World Bank Group President, David Malpass, said that Nigeria and other developing countries are faced with sudden price increases for energy, fertilizer and food, as well as interest rate increases due to war in Ukraine and Covid-19 related shutdown.
Also, the Secretary-General of the United Nations, Antonio Guterres, said earlier in May, that global food security problem could not be solved without restoring Ukrainian agricultural production and Russian food and fertiliser output to the world market.
The World Bank had earlier urged advanced countries to keep markets open, remove trade barriers and reverse policies that concentrate wealth in the face of high energy and food prices, increasing debt concerns and potentially worsening poverty and hunger.
Ukraine is a key source of grain while Russia is a major producer of energy and fertilizer needed for agriculture, and the war is creating sudden shortages of energy, fertilizer, and food.
