The Nigeria Sovereign Investment Authority (NSIA) has announced its plan to conclude its intervention in the fertiliser blending sector, marking the end of an eight-year transformative effort that has revitalized local production and expanded the number of functional blending plants from just four in 2017 to over 90 nationwide.
This decision represents the final phase of a carefully structured transition plan aimed at handing over full operational control to private sector stakeholders who are now positioned to drive the industry sustainably.
Speaking at the NSIA’s 2024 Earnings Presentation and media engagement in Abuja, the Authority’s Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, stated that the NSIA has successfully fulfilled its mandate of resuscitating the fertiliser value chain. He noted that the Authority’s continued presence in the sector is no longer necessary, given the improved market conditions and the emergence of competent private players.
“The liberalisation of the sector—particularly following the Central Bank of Nigeria’s removal of foreign exchange restrictions on the importation of key inputs—has catalyzed increased participation from private investors,” Umar-Sadiq said. “We are confident that the industry can now thrive independently.”
Under the Presidential Fertiliser Initiative (PFI), anchored by the NSIA, Nigeria’s fertiliser sector saw a significant revival, with enhanced local capacity, improved product availability, and price stability for farmers across the country. The initiative has been widely credited with reducing import dependency and stimulating agricultural productivity.
As the NSIA prepares its exit, stakeholders have lauded the Authority’s role in laying the foundation for a fully private-sector-driven fertiliser industry, emphasizing the need for continued regulatory oversight to ensure quality standards and fair pricing in the evolving market.
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