The Vice President of the Federal Republic of Nigeria, Professor Yemi Osinbajo, SAN, has said that the President Muhammadu Buhari administration takes private enterprise seriously, reports NaijaAgroNet.

Speaking during the Commissioning of the Edo State Fertilizer and Chemical Company Limited NPK Fertilizer Plant, Auchi, Edo State on Tuesday, Osinbajo said that the state-owned fertilizer plant has been recently rehabilitated, as a Public-Private Partnership.

This accounts for the Presidential Enabling Business Council set up by President Muhammadu Buhari, the work of which was fortified by the Executive Order No. 1, which he executed on May 18, 2017, on the promotion of transparency and efficiency in the business environment and facilitation of the ease of doing business.

“The clear objective of establishing the plant is to boost farming activities and the agric value chain nationwide. This investment is a direct response to the Federal Government’s strategy of growing the Nigerian economy on a zero oil assumption,” he said.

Agriculture, he noted, is that well-known, “but abandoned pathway to our economic diversification and national prosperity. The fundamental constraint to optimizing agriculture is access to inputs, fertilizer being a fundamental input. On the average, a Nigerian farmer uses 13kg per hectare of fertilizer compared with world average of 100kg per hectare. “

Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, Mr. Laolu Akande, in a press statement available to NaijaAgroNet quoted VP Osinbajo as explaining why Mr. President negotiated the December 2016 Fertilizer initiative, working with the Moroccan King, aimed at achieving local production of 1 million metric tons of NPK fertilizer for 2017 wet season farming. Reducing costs and delivering finished products at N5000-5500 per bag (formerly between N8-9,000 sometimes N13,000).

This, again, he said, is an enterprise that will create at least 500 direct jobs and several more indirect jobs. It will bring us closer to self-sufficiency in fertilizer production and, perhaps most importantly, boost food production and reduce food prices, ultimately enhancing food security in Nigeria.

Isaac Oyimah/GEE

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This post was originally published at Naija AgroNet and has been republished with permission.

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