President Muhammadu Buhari has said developments in the Nigerian fertiliser value chain is moving the country to becoming a regional and global fertiliser powerhouse and advised investors to look beyond short-term gains to enable them realise the immense economic and social gains available for themselves and the country.
Speaking during a virtual briefing on the progress of the Presidential Fertiliser Initiative by the President of Fertiliser Producers and Suppliers Association of Nigeria Mr. Thomas Etuh, President Buhari appreciated the investments that have been made by Nigerians in the fertilizer sector, saying those investments have contributed in lifting rural unemployment.
The President, who expressed confidence in the leadership of FEPSAN under Thomas Etuh, noted the sustained investments by members of the association even during the recessionary period and the Covid-19 lockdown and thanked them for their sacrifices and personal commitments to the economic emancipation of Nigeria through enhanced availability of crop inputs for improved agricultural yield.
He said increased investments in the rural areas are a strong factors that have progressively helped in tackling some of the security issues the country has been witnessing, predicting that the country would witness unprecedented prosperity with sustained investments in peace-building in the rural areas.
“Nigerians should be proud of the sacrifices and personal commitments you have made towards the milestones we have so far recorded. The resent recession didn’t you’re your investments in this sector even when others were taking their investments outside the country. Investments in rural areas tackles unemployment, which is the root cause of the insecurity we have been experiencing in many parts of the country at present,” President Buhari noted.
He assured of the disposition of the Federal Government towards providing a favourable investment climate in the country and thanked the King of Morocco for partnering with hi administration towards ending fertilizer scarcity in the country, adding that a recent agreement with the government of the north African country will go a long way in improving the balance of trade between the two countries.
A major highlight of the briefing was the restructuring of the Presidential Fertilizer Initiative to ensure it was fully led by the private sector, who would provide all funding for the procurement of raw materials necessary for fertilizer production in the country.
Earlier during his briefing, FEPSAN President, Thomas Etuh highlighted the initiative, commitment and supportive roles of President Buhari in birthing the Presidential Fertilizer Initiative which commenced the sectoral revitalization process, stressing that the singular initiative has lifted the country from scarcity to availability of the essential agro input.