Another Russia-Nigeria deal goes through as FG signs fertiliser production agreement
THE Nigerian government has signed a new agreement with Uralchem, a Russian firm to increase fertiliser production in the country.
On Monday, under the Presidential Fertiliser Initiative, the company signed on to supply Nigeria with potash, a vital ingredient for the production of the product in a ceremony held at the Presidential Villa.
Uche Orji, Managing Director of the Nigerian Sovereign Investment Authority, signed on behalf of the Nigerian government while Dmitry Konyeaev, a representative of Uralchem, signed on behalf of the company.
Abubakar Badaru, Chairman of the PFI and Governor of Jigawa State said the new development was a result of President Muhammadu Buhari’s discussions with Putin Vladimir, Russian President during the Russia- African Summit held in Sochi, October.
He said the agreement between the country and the company was a milestone in the government’s efforts to improve food production by making fertilisers cheaper for the farmers that need them.
“What we have just witnessed will help in stabilising the price of NPK brand of fertiliser that we produce locally. The beauty of this deal is that it is a direct purchase; no commissioned agent and also because of the involvement of the two Presidents, the price is very competitive,” Badaru stated.
In addition, Orji said that since the initiation of the programme, over 19 million bags of fertiliser had been blended since 2017 and two blending plants revived.
“Today, as we approach the programme for 2020, 26 local blending plants, which include some of the old and new ones, have joined the programme.”
The new business deal comes barely a week after the National Assembly called for an investigation into the Nigeria-Russian deal to revive the Ajaokuta Steel Mill.