Finished imported NPK products are said to be affected by The Central Bank of Nigeria's announcement to cut foreign currency access for all fertilizer imports.
Argus Media stated "The Central Bank of Nigeria issued a circular on 10 December incorrectly stating that all fertilizers will be added to its existing list of 41 imported items from 7 December. But the Fertilizer Producers and Suppliers association of Nigeria (Fepsan) is due to meet with the CBN to rectify the announcement, according to sources close to the association".
Following the recommendations of Fepsan, The Nigerian government banned the import of NPK fertilizers in the country last month. Fespan argued that a ban on imports would encourage the use of more soil-specific fertilizers, as well as protecting domestic producers and foreign exchange reserves.
Read the article online at: https://www.worldfertilizer.com/nitrogen/14122018/npks-only-are-affected-by-nigerias-forex-ban/