Osinbajo To Commission $1.5bn Fertilizer Plant In PH

From left: Minister of Industry, Trade and Investment, Dr Okechukwu Enalamah; Minister of Finance, Kemi Adeosun; Acting President Yemi Osinbajo; and Minister of Power, Works and Housing, Babatunde Fashola  Photo: Callistus Ewelike/BJO/NAN/file

By Victor Ernest

Acting President Yemi Osinbajo will on Thursday commission a fertilizer plant built by Indorama Eleme Fertilizer and Chemicals Limited in Port Harcourt, the Rivers state capital.

This was made known in a statement issued on Wednesday in Abuja by Osinbajo’s media aide, Laolu Akande.

Akande disclosed that the plant with production capacity of 1.5 million metric tons of Urea fertilizer is considered the world’s largest single-train Urea plant.

Eleme Petrochemicals Company Ltd, now Indorama Eleme Fertilizer and Chemicals Limited, was privatised in 2006 after the sale of Federal Government’s 75 percent shares to a core investor through competitive bidding process.

Green revolution

Akande noted in the statement that the plant has a production capacity of 4,000 metric tons of nitrogenous fertilizer per day.

According to him, the construction of the plant would lead to green revolution in the agriculture sector in Nigeria other parts of Africa and beyond, in line with the economic diversification policy of the President Muhammadu Buhari administration.

”Besides making fertilizer available to farmers nationwide at affordable cost, the plant will boost crop yield for farmers and help in minimizing food grain deficit in Nigeria,” Akande added.

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