Yemi Osinbajo, acting president of Nigeria has inaugurated the new US$1.5bn fertiliser plant in Port Harcourt, which was built by Indorama Eleme Fertilizer and Chemicals Limited (IEFCL) in Nigeria
In a statement to the Premium Times, Laolu Akande, senior special assistant to the acting president on media and publicity, said that the plant is one of world’s largest single-train urea plants, with a production capacity of around 1.5mn metric tonnes of Urea fertiliser.
“The plant has a production capacity of 4000 metric tonnes of nitrogenous fertiliser per day or 1.5 metric tonnes per annum,” he added.
Akande explained that the new fertiliser plant aims to support Nigeria’s goal to achieve green revolution in the agriculture sector in the country as well as other parts of Africa.
The fertiliser plant also includes one port terminal at the nearby Onne Port Complex and a 83.5km gas pipeline for gas supply.
In line of the economic diversification policy of the Buhari administration to encourage rapid diversification of the Nigerian economy by boosting the country’s agricultural and mining sector, the new plant is expected to make fertiliser available to the farmers nationwide at an affordable cost.
Furthermore, the plant also focuses on increasing crop yield for farmers to help in minimising food grain deficit in Nigeria.
IEFCL is one of the leading urea fertiliser manufacturer in Nigeria and Sub-Saharan Africa. The company aims to support Nigeria’s agricultural sector by supplying fertilisers for local farmers. IEFCL also exports urea to West and Southern African countries as well as other international market places including North America, South America and Europe.
The company was privatised in 2006 after the federal government sells its 75 per cent stakes to a private investor in a bidding process.