The acting president of Nigeria, Yemi Osinbajo, is set to inaugurate a new US$1.5 billion fertilizer plant, built by Indorama Eleme Fertiliser and Chemicals Limited, in the southeastern city of Port Harcourt, Nigeria.
The plant will have a production capacity of 1.5 million t of urea fertilizer. According to a statement issued by the acting president’s spokesman, Laolu Akande, the plant is considered the world’s largest single-train urea plant.
For decades, Nigeria’s economy has heavily relied upon oil exports. However, recent low crude prices and a rise in militant attacks in the country in recent years have caused production to slow. This has driven Nigeria to diversify in other sectors, including agriculture and manufacturing, according to Reuters.
“Besides making fertilizer available to farmers nationwide at affordable cost, the plant will also boost crop yield for farmers,” the statement added.
Read the article online at: https://www.worldfertilizer.com/project-news/27072017/new-urea-plant-to-be-inaugurated-in-nigeria/