Federal Government To Invest $286mn In Fertiliser Project

Channels Television  
Updated February 27, 2017

nsiaThe Nigerian Government will this week begin the implementation of a fertilizer project expected to enable the country conserve its foreign exchange by about 1.5 billion dollars in the next three years.

Planned through the Nigerian Sovereign Investment Authority (NSIA), over 286.4 million dollars or 87.2 billion Naira is to be invested for the blending of one million metric tonnes of fertiliser.

The blueprint consists of future generation fund, infrastructure fund, and fiscal stabilisation fund.

The NSIA had allocated 20 per cent of some proceeds to the stabilisation fund while 40 per cent has been set aside for the future generation fund and another 40 per cent for the infrastructure fund.