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Nigeria secures 449,000 metric tonnes of fertiliser inputs to boost food security

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President Bola Tinubu has announced that Nigeria has secured more than 449,000 metric tonnes of fertiliser inputs—equivalent to about nine million bags—to support agricultural production and strengthen food security across the country.

The president disclosed this in a statement posted on his official X account on Thursday, describing the development as part of broader measures by his administration to fulfil its commitment to making Nigeria food-secure.

“As of May 2026, more than 449,000 metric tonnes of fertiliser inputs, equivalent to about nine million bags, had been secured, with 10 vessels discharged or in transit,” Mr Tinubu said.

He recalled that upon assuming office, his administration identified food security as a central pillar of its Renewed Hope Agenda.

“We promised to support our farmers, strengthen local production, reduce dependence on imports, and build an agricultural system strong enough to withstand shocks from beyond our borders.

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“That promise is being kept,” he said.

Fertiliser procurement challenges

Nigeria has long struggled with fertiliser procurement due to rising raw material costs, supply chain bottlenecks, and product diversion, challenges that have limited access for smallholder farmers who account for a significant share of domestic food production.

To address these concerns, the administration of former President Muhammadu Buhari entered strategic partnerships with Morocco in 2016 and Russia in 2019 under the Presidential Fertiliser Initiative (PFI), managed by the Nigeria Sovereign Investment Authority (NSIA).

The initiative began with a Memorandum of Understanding aimed at reviving dormant fertiliser blending plants and importing discounted phosphate from Morocco. In 2021, the partnership expanded into a $1.3 billion basic chemicals platform designed to support local production of ammonia and fertilisers.

The arrangement increased the supply of raw materials to blending plants, boosted domestic production capacity and reduced fertiliser costs. However, challenges, including diversion and sabotage within parts of the value chain continued to limit access for farmers.

Experts have linked inadequate fertiliser availability to declining agricultural yields, rising food prices and worsening food insecurity.

Nigeria’s food system has come under increasing pressure in recent years due to recurrent flooding, insecurity in farming communities, rising transportation costs following fuel subsidy removal, and broader structural challenges.

According to the United Nations World Food Programme (WFP), about 35 million Nigerians are projected to experience acute food insecurity during the 2026 lean season.

Global disruptions

Mr Tinubu said disruptions in global supply chains and rising costs of key fertiliser inputs, worsened by conflict in the Middle East, posed significant risks to countries dependent on imported raw materials.

For Nigeria, he said, the potential consequences included fertiliser shortages, higher input costs, reduced productivity and increased food prices.

“I am pleased to inform you that we moved early,” the president said.

He explained that through the Presidential Fertiliser Initiative, now restructured under the Ministry of Finance Incorporated (MOFI), the government strengthened procurement systems, secured critical raw materials, signed forward contracts and improved coordination across the fertiliser value chain.

According to him, these measures helped shield Nigeria’s fertiliser blending industry from the worst effects of global market disruptions.

Mr Tinubu said the government remains on course to deliver a 1.1 million metric tonne fertiliser programme in 2026, equivalent to about 22 million bags.

He added that strategic contracting for key inputs generated savings of N61.58 billion in 2026 alone, helping to keep fertiliser prices relatively affordable for farmers.

Supporting farmers

The president noted that Nigeria currently has more than 90 operational fertiliser blending plants, giving the country the largest blending capacity in Sub-Saharan Africa.

“This capacity means jobs, local production, industrial growth and greater resilience for our food system,” he said.

Mr Tinubu stressed, however, that securing fertiliser inputs and maintaining production capacity would only be meaningful if the products reach farmers on time.

To address this, he said the government launched the Renewed Hope Farm Input Support Programme (RH-FISP) through the National Agricultural Development Fund (NADF).

READ ALSO: Tinubu speaks on power sector challenges, pledges reforms

Under the programme, 515,720 bags of locally produced fertiliser are being distributed to 128,930 smallholder farmers across 25 states and the Federal Capital Territory during the current planting season.

The NADF is also supporting modern agricultural practices through digital extension services, harmonised fertiliser application guidance and targeted interventions for priority crops such as rice, maize, cassava and soybean.

“Our administration will not relent in its efforts to protect farmers, raise productivity, strengthen the agricultural value chain, support local industry and ease pressure on food prices over time,” Mr Tinubu said.

“This is the meaning of promise made, promise kept. We will continue to take practical steps to strengthen Nigerian agriculture and protect food security for every Nigerian.”


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Business

NAIPE 11th Annual Conference Moves to 12 Noon as 28 Stakeholders Back Event

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About 28 insurance and pension regulators and operators have backed the upcoming 11th edition of the Nigerian Association of Insurance and Pension Editors (NAIPE) Annual Conference, scheduled to hold in Lagos.

This is even as the timing of the event scheduled to hold on Thursday, October 8, 2026, at Oriental Hotel, Victoria Island, Lagos, has been shifted from 9:00am to 12:00pm same day.

This is to allow Insurance operators, who will be attending Insurers Committee meeting earlier that day, conclude their meeting and attend the conference.

The national conference with a focus on the emerging market dynamics in Nigeria’s insurance and pension sectors, follows  the just concluded recapitalisation exercise in the insurance sector and ongoing exercise in the pension industry.

Themed: “Post-Recapitalisation and Market Dynamics in Insurance & Pension Sectors,” the Chief Executive Officer of United Capital Asset Management Limited, Dr. Odiri Oginni, will deliver the keynote address, focusing on the insurance  perspective while Mr. Oguche Aguda,
Founder and Managing Partner of HRISP Partners, will equally deliver a paper on the theme, focusing on the pension perspective.

The Group Managing Director of Custodian Investment Plc, Mr. Wole Oshin, will chair the event.

According to NAIPE, the conference is coming at a critical period for the two sectors, as insurance operators have just concluded their recapitalisation exercise, while pension operators are expected to conclude theirs in 2027.

The high level discourse will therefore examine how funds raised through recapitalisation can be strategically invested and deployed to generate stronger returns, deepen market confidence and improve service delivery to shareholders and policyholders.

Expected dignitaries include the Commissioner for Insurance & Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin; Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran; chief executives of insurance companies, broking firms, investment and securities companies and Pension Fund Administrators (PFAs), as well as regulators, labour unions, students and other stakeholders.

Speaking ahead of the conference, Chairperson of NAIPE, Mrs. Ebere Nwoji said, the annual gathering provides a platform for insurance and pension journalists to contribute to the development of both sectors by promoting greater public understanding of insurance and pension as instruments for financial security and protection against old-age poverty.

Nwoji expressed appreciation to operators and regulators in the two sectors for their continued support for the conference, stressing that, the benefits derived from the annual event outweigh the resources committed to organising it.

She described this year’s theme as timely, given the significant structural changes taking place in the insurance and pension industries through recapitalisation.

She noted that, the insurance industry concluded its recapitalisation exercise on July 31, 2026, while the pension industry is currently undergoing a similar process expected to be completed next year.

The NAIPE chairperson, particularly, commended the leadership of NAICOM for successfully concluding the insurance industry’s recapitalisation exercise, describing it as a major achievement for Omosehin.

According to her, the Commissioner ‘took the bull by the horns’ in breaking what she described as the longstanding cycle of inconclusive recapitalisation exercises in the insurance industry.

She also expressed optimism that the pension industry, under the leadership of Ms. Omolola Oloworaran, would achieve a seamless and successful recapitalisation exercise.

“The conference would provide operators with an opportunity to gain insights into prudent and judicious investment of the capital raised through the recapitalisation process.

“I am confident that speakers at the event would provide practical perspectives on how insurance and pension operators can deploy their strengthened capital bases to deliver superior investment returns while enhancing value for investors, shareholders and policyholders” she affirmed.

Meanwhile, NAICOM, PenCom, SanlamAllianz, Veritas Kapital and 24 others have offered their support and partnership towards the conference.

The post NAIPE 11th Annual Conference Moves to 12 Noon as 28 Stakeholders Back Event appeared first on Business Today NG.

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Nigeria’s business activity expands as household confidence weakens

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Nigeria’s business activity strengthened in September 2026, but households became more pessimistic about economic conditions, finances and prices, according to new reports by the Central Bank of Nigeria (CBN).

The CBN’s September Purchasing Managers’ Index (PMI) showed that overall economic activity expanded for the fourth consecutive month, with the Composite PMI rising to 53.0 points from 52.7 points in August.

The survey, conducted between 7 and 11 September among 1,900 purchasing and supply executives across the Industry, Services and Agriculture sectors, showed that 23 of the 32 subsectors surveyed recorded expansion, while nine declined.

The improvement was supported by stronger industrial activity, with the Industry PMI rising to 52.0 points in September from 50.6 points in August, marking a second consecutive month of expansion.

The sector’s Output Index also rose to 53.2 points, supported by increases in new orders and employment, while the Raw Materials Inventory Index returned to expansion at 51.1 points from 49.4 points in August.

The Services sector remained in expansion at 53.2 points, compared with 53.3 points in August, while the Agriculture PMI eased slightly to 53.1 points from 53.4 points.

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The regulatory body said agriculture had now recorded 26 consecutive months of expansion.

However, the improvement in business activity was accompanied by renewed pressure on input prices.

The Composite input price index increased by 0.8 points in September, while the output price index declined by 0.5 points.

CBN said the September PMI pointed to a “broadening recovery” in economic activity, although the renewed increase in input price pressures warranted close monitoring.

Household expectations

Meanwhile, the picture was less positive among households. In a separate report, CBN’s September Household Expectations Survey, it was revealed that the Overall Consumer Sentiments Index fell sharply to -18.7 points from -9.9 points in August, indicating increased pessimism about the economy.

The Economic Conditions Index stood at -21.5 points, while the Family Financial Situation Index was -23.9 points and the Family Income Sentiments Index stood at -10.5 points.

This indicates a pessimistic outlook on current economic conditions among households and regarding their family financial situation.

Also, the report showed that Nigerian households also reported stronger concerns about prices.

The average price sentiment index rose to 33.5 points from 23.0 points in August, indicating that respondents perceived prices as remaining high. Among the selected items, households reported the lowest perceptions of price changes for food and telecommunication services.

The Central Bank said households expected price pressures to remain elevated over the next three and six months, with the price outlook indices standing at 29.7 and 28.4 points, respectively.

Meanwhile, Nigeria’s headline inflation eased marginally to 15.39 per cent in August 2026 from 15.43 per cent in July, according to the National Bureau of Statistics (NBS), while month-on-month inflation fell more sharply to 0.71 per cent from 1.57 per cent.

CBN said the respondents’ cautious mood was also reflected in household spending intentions, with food remaining the dominant expenditure priority, followed by transportation, other household goods, education, and electricity and water.

It said households remained particularly reluctant to make major purchases. The sentiment indices for house purchases, motor vehicles, investments and consumer durables were all negative, at -68.2, -67.3, -50.7 and -49.5 points, respectively.

Buying conditions also remained weak, with the index for consumer durables at 24.8 points and that for motor vehicles and buildings and landed properties at 24.2 points, all below the 50-point threshold.

The survey further showed that 61.1 per cent of respondents believed faster price increases would weaken the Nigerian economy, while 62.2 per cent preferred lower lending rates.

However, 45.1 per cent favoured higher interest rates when they were presented as a means of containing inflation, while 44.8% preferred lower interest rates, even at the cost of rising inflation.

READ ALSO: CBN urges Nigerians to handle Naira with care

Despite the weak September sentiment, households expected confidence to improve gradually, with the Overall Consumer Sentiments Index projected at -8.7 points next month, -0.4 points over the next three months and 7.1 points over the next six months.

The contrasting findings suggest that while business conditions continued to improve in September, households remained under pressure from high prices, interest rates and concerns about their finances.

The regulatory body said households remained cautious during the month, with subdued buying conditions and purchase intentions pointing to persistent concerns about household finances and economic conditions.


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