PFI NPK Limited Saves Nigeria $44M with Early Fertilizer Procurement

PFI NPK Limited has credited its early procurement strategy for stabilizing fertilizer supply in Nigeria, saving the country approximately $44 million. This decision, approved by President Bola Tinubu, was made to shield farmers from supply disruptions triggered by ongoing conflicts and geopolitical tensions affecting global shipping routes.

Dr. Armstrong Takang, the Development Director at PFI NPK Limited, stated that the early procurement allows Nigeria to secure fertilizer supplies and lock in prices, mitigating the impact of rising costs in the global fertilizer market.

The company has secured nine vessels carrying a total of 407,304 metric tons of raw materials, which will increase the stock of NPK fertilizer products to 534,219 metric tons. PFI NPK Limited aims to supply 648,000 metric tons of raw materials by 2025, expanding to 1.52 million metric tons in 2026.

The company emphasizes that it does not import finished fertilizer products but supports local manufacturing through its procurement model.