Acting President of Nigeria, Prof. Yemi Osinbajo today in Port Harcourt Ngeria inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the cost of $1.5 billion. This year alone, the plant is expected to supply about 360,000 Metric Tons of Urea to Fertilizer blenders, which, in turn, will produce NPK fertilizer for the benefit of farmers across the country.
Prof Osinbajo commended Indorama for keying into the Presidential Fertilizer initiative which President Buhari launched last year to make fertilizers cheaper nationwide. “At the end of last year, the President launched a Presidential Fertilizer Initiative, to ensure the availability of cheaper fertilizer to our farmers, to support what we’re doing in agriculture, in the production of rice and wheat and other staples. “That Fertilizer Initiative, now well underway, has created significant economic opportunities for companies like Indorama Eleme Fertilizer & Chemicals Limited.
|Acting President of Nigeria, Prof. Yemi Osinbajo|
Governor Nyesom Wike of Rivers State, in his speech said that for Indorama to invest a whopping $1.5 billion in the state, it shows that the state is safe for investors and their investments. He called on other investors to emulate the footsteps of Indorama.
The fertilizer plant is well supported by Port Terminal at the nearby Onne Port Complex, and a Gas Pipeline of 83.5KM for gas supply. The plant will bring about a green revolution in the agriculture sector not only in Nigeria but also in other parts of Africa and world at large.
Besides, making the fertilizer products to be available at affordable cost, the plant will boost crop yield to farmers and greatly help in minimizing the food grain deficit in Nigeria. The plant has also generated lots of job opportunities contributing to the economic prosperity of Nigeria.