Fed Govt mulls fertiliser price slash to boost agric production


The Federal Government plans to slash the price of Nitrogen, Phosphorus and Potassium (NPK) fertiliser to N5, 000 per bag to encourage farmers to boost agricultural production in the country. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who made this known to newsmen in Abuja, said the plan is to make food production easier and enhance profit for farmers in the country.

The minister said the government would take delivery of the first shipment of 800, 000 tonnes of NPK fertiliser from Morocco by January 27. According to him, government wants the blending to take place everywhere in the country so that farmers can have access to fertiliser at the lowest possible cost.

A bag of NPK costs between N7, 500 and N9, 000 in the open market. But with the first shipment of phosphate from Morocco expected to arrive today in Lagos and then the blending done here, Ogbe said: “We are bringing the price of fertiliser to N5, 000 per bag.”

- Advertisement -First Bank USED