PFI Saves US$200M, Revives 84 Blending Plants
By Patience Ikpeme
The Presidential Fertilizer Initiative (PFI), a cornerstone of Nigeria’s agricultural transformation agenda, has significantly bolstered the country’s economy by saving over USD 200 million in foreign exchange, creating more than 100,000 direct and indirect jobs, and generating annual fiscal savings exceeding N60 billion through the elimination of fertilizer subsidies.
These accomplishments were highlighted during a roundtable convened by the Nigeria Sovereign Investment Authority (NSIA) in Abuja on Monday.
Under the strategic leadership of the NSIA, the PFI has successfully resuscitated and established 84 fertilizer blending plants across Nigeria’s six geo-political zones.
This achievement not only revitalized the nation’s fertilizer production capacity but also reinforced Nigeria’s commitment to self-sufficiency in agriculture.
Since its inception, the PFI has delivered 90 million bags of locally blended, high-quality fertilizers to farmers across the country. Despite global disruptions such as the COVID-19 pandemic and the ongoing Russia-Ukraine war, the initiative has managed to ensure a steady supply of fertilizers, safeguarding Nigeria’s agricultural productivity during challenging times.
However, the initiative has not been without its challenges. One of the most pressing issues is the impact of foreign exchange fluctuations on the cost of key imported raw materials, which has exacerbated cost pressures throughout the fertilizer value chain. This issue adds complexity to the PFI’s operations, as the initiative strives to maintain affordability for farmers while ensuring the sustainability of the program.
Recognizing these challenges, the NSIA has been proactive in collaborating with its partners to ensure that the PFI continues to deliver on its mission to support Nigeria’s agricultural sector. Speaking at the roundtable, Iruansi Itoandon, the Project Lead for the PFI, described the program as “a shining example of what we can achieve when we work together with a shared vision for our country’s future.”
As the PFI approaches its next phase, the NSIA has emphasized the importance of strategically positioning the initiative to achieve maximum impact in Nigeria’s agricultural ecosystem. During the roundtable, Aminu Umar-Sadiq, Managing Director and CEO of NSIA, represented by Sybil Etuk, Head of Corporate Planning, reaffirmed the Authority’s commitment to the initiative. Umar-Sadiq stated, “PFI aligns with the Authority’s mandate to strengthen the agricultural sector, uphold import substitution as a critical lever for national development, and ultimately create shared value for all stakeholders.”
In addition to the NSIA’s strategic efforts, the President of the Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN), Sadiq Kassim, proposed the establishment of a fertilizer institute in collaboration with the PFI. This institute would aim to build the technical and financial capacity of players within the fertilizer ecosystem, further enhancing the initiative’s impact on Nigeria’s agricultural sector.
As Nigeria celebrates the PFI’s achievements in improving agricultural productivity and bolstering food security, the roundtable also highlighted the need for greater inter-agency collaboration. The vision is to gradually direct the initiative into full private sector control, ensuring its continued success and the sustained development of Nigeria’s agricultural industry.
The Presidential Fertilizer Initiative has proven to be a transformative force in Nigeria’s agricultural sector, driving significant economic gains and contributing to national food security. As the NSIA and its partners look to the future, their focus remains on overcoming challenges, fostering collaboration, and ensuring that the PFI continues to deliver substantial benefits to Nigeria’s farmers and the broader economy. The next phase of the PFI promises to build on these successes, further entrenching the initiative as a critical pillar of Nigeria’s agricultural and economic development strategy.
