The Federal Government and OCP Africa, a global provider of phosphate and its derivatives, are to build a $1.5bn fertiliser complex in Akwa Ibom State.
OCP Africa also announced an investment of $43m in three fertiliser blending plants in Ogun, Kaduna and Sokoto states. It said the plant in Kaduna was already producing fertilsers, while others would start production next year.
FG, OCP To Build $1.5bn Fertiliser Production Complex
The Deputy Managing Director, Programme Incubation for West Africa, OCP Africa, Caleb Usoh, disclosed this while speaking at a press conference in Abuja on Friday ahead of the formal inauguration of the $14m Kaduna fertiliser blending plant.
He said the firm, in partnership with the Federal Government, would establish a multi-billion dollar fertiliser complex in Nigeria to deepen the use of standard fertilisers by Nigerian farmers.
Usoh said, “Talking of our investments in the plants, today the value of those three (Ogun, Kaduna and Sokoto) plants is about $43m. The industrial plant, which will be delivered in the next four years, is valued at $1.5bn.
“Those are the values of our investments in Nigeria in terms of plant or production capacity. We must, however, clarify that the big industrial platform in Akwa Ibom is a partnership between OCP and the Nigerian government.
Source: Punch Newspaper