The Presidential Fertilizer Initiative (PFI), under the strategic management of the Nigeria Sovereign Investment Authority (NSIA), has achieved remarkable milestones, delivering 90 million bags of high-quality, locally blended fertilizers to farmers nationwide.
Since its inception, the PFI has revitalized 84 blending plants across Nigeria’s six geopolitical zones, creating over 100,000 jobs and saving the country more than USD 200 million in foreign exchange. Additionally, the initiative has generated annual fiscal savings exceeding N60 billion by eliminating fertilizer subsidies.
This was disclosed by NSIA Managing Director and CEO, Aminu Umar-Sadiq, represented by Sybil Etuk, Head of Corporate Planning, during the PFI Stakeholders’ Roundtable in Abuja on Monday.
Umar-Sadiq emphasized that the PFI aligns with the NSIA’s mandate to strengthen agriculture, promote import substitution, and create shared value for stakeholders.
Despite challenges such as global supply chain disruptions from the COVID-19 pandemic and the Russia-Ukraine conflict, the PFI has maintained a consistent fertilizer supply across Nigeria.
However, foreign exchange fluctuations continue to impact the cost of key imported raw materials, adding complexity to the value chain.
In response to these challenges, the NSIA is actively collaborating with its partners to ensure the continued success of the PFI.
However, the Project Lead, Iruansi Itoandon lauded the initiative as a prime example of the power of collective effort towards national development.
Looking ahead, the NSIA reaffirmed its commitment to strategically positioning the PFI for maximum impact as it transitions to its next phase.
The President of the Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN), Sadiq Kassim, proposed the establishment of a fertilizer institute to enhance the technical and financial capacity of industry players.
As Nigeria celebrates the PFI’s contributions to agricultural productivity and food security, plans are underway to increase inter-agency collaboration and transition the initiative to full private sector control, ensuring its continued success and the sustained development of Nigeria’s agricultural sector.
The NSIA, which convened key stakeholders to review the initiative’s achievements and address ongoing challenges, continues to play a pivotal role in driving Nigeria’s economic development. Established by the Nigeria Sovereign Wealth Act (2011), the NSIA manages three distinct funds—Stabilization Fund, Future Generations Fund, and Nigeria Infrastructure Fund—aimed at building a savings base, enhancing infrastructure development, and providing economic stabilization.