President Bola Ahmed Tinubu has disclosed that Nigeria saved ₦61.58 billion through strategic fertiliser procurement reforms while securing more than 449,000 metric tonnes of fertiliser inputs despite disruptions in the global supply chain.
Tinubu, in a statement on his official page on Wednesday, said the intervention was achieved under the Presidential Fertiliser Initiative (PFI), which has been restructured under the Ministry of Finance Incorporated (MOFI) to strengthen procurement efficiency and cushion the impact of global market volatility.
He said rising geopolitical tensions, particularly conflicts in the Middle East, triggered major disruptions in global fertiliser supply chains, with attendant risks to food production and prices.
According to him, the administration responded by strengthening contracting frameworks, securing critical raw materials, signing forward supply agreements and improving coordination across the fertiliser value chain.
“Through the Presidential Fertiliser Initiative (PFI), now restructured under MOFI, we strengthened procurement, secured critical raw materials, signed forward agreements, improved coordination across the value chain, and protected Nigeria’s local fertiliser blending industry from the worst effects of global market disruption,” he said.
The President disclosed that as of May 2026, over 449,000 metric tonnes of fertiliser inputs had been secured, while 10 vessels carrying fertiliser materials were either discharged or still in transit.
He added that Nigeria remained on track to deliver a 1.1 million metric tonne fertiliser programme in 2026, equivalent to about 22 million bags.
Tinubu further stated that strategic contracting alone delivered ₦61.58 billion in savings in 2026, describing the gains as critical to keeping fertiliser prices more affordable for farmers.
He also noted that Nigeria now has more than 90 operational fertiliser blending plants, which he said represents the largest blending capacity in Sub-Saharan Africa.
In addition, the President said government had launched the Renewed Hope Farm Input Support Programme (RH-FISP) under the National Agricultural Development Fund (NADF) to expand farmers’ access to inputs.
Under the scheme, he said 515,720 bags of locally produced fertiliser are being distributed to 128,930 smallholder farmers across 25 states and the Federal Capital Territory for the current planting season.
Tinubu added that the NADF is also supporting farmers through digital extension services, fertiliser application guidance, and targeted interventions for key crops including rice, maize, cassava and soybean.
Reaffirming the administration’s agricultural agenda, the President said government remains committed to boosting productivity, strengthening the agricultural value chain and improving food security.
“Our administration will not relent on its efforts to protect farmers, raise productivity, strengthen the agricultural value chain, support local industry, and ease pressure on food prices over time,” he said.
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