Nigeria is expecting about 105 metric tonnes of potassium used for blending fertilizer from Russia and Canada as it bids to ramp up the production of the commodity in time for use by farmers in the current farming season.
This is as the Russia-Nigeria potassium link has been restored despite the ongoing Russia-Ukraine war.
The Managing Director and Chief Executive Officer of Nigerian Sovereign Investment Authority (NSIA), Mr Uche Orji, disclosed this while appearing at the ministerial press briefing organized by the Presidential Communications Team at the Presidential Villa, Abuja on Thursday.
He said raw materials for fertilizer production would not be a problem because President Muhammadu Buhari has ensured that there were available.
The NSIA boss stated: “We have a total of 105 metric tonnes coming of which 35,000 is from Russia and the rest is from Canada.
“But now that we have re-established the Russia-Nigeria link for potassium, subsequent transactions will likely come from Russia just because it saves us time, it’s one week shorter in terms of sailing time for the vessel from Russia versus Canada.
“It’s not even near Canada, it’s central Canada that this thing comes from. So, it’s a long way to get to Nigeria.”
He affirmed that the administration of President Buhari has so far committed over N100 billion to the implementation of the ongoing Second Niger Bridge project Presidential Infrastructure Development Fund (PIDF).
Orji recalled that only N19 billion was expended on the project before the coming of the administration.
He said the money invested in the project and others including the Lagos-Ibadan Expressway, Second Niger Bridge and Abuja-Kaduna-Kano Highway was part of the $300 million recovered from funds looted by the former Head of State, General Sani Abacha.
Orji affirmed that the government was working on the instruction to ensure that recovered loot must be expended on the projects.
He explained: “The NSA itself has done two things. Firstly, the NSIA’s direct commitment to the PIDF projects is $300million. That’s been approved by the board of the NSA. So, that money is available. And it has been spent.
“Two, the NSA and its role manage the President’s fund that was originally delivered to this project. What has not been spoken to here is that the NSIA in the management and that fund, and an additional profit of 40 billion naira which has gone into the program.
“Okay, so our job is not just that we’re investing. Our job is to make sure that the entire resources available to us are properly managed, and directed appropriately.
“Thirdly, as you are aware, the authorities of the US and Jersey came together and said the monies that were recovered on behalf of Nigeria, from General Abacha will be applied to this program. That’s about $300 million.
“You know, when we had this briefing, I think last year, people were still doubtful whether things like the second Niger bridge will be done or not. I mean, I think now we have laid that question to rest.
“I’m going to go on to answer a question you did not ask me. N19 billion was what was invested before President Buhari came.
“That’s the second Niger bridge we have seen that program floating around, somebody wrote something about all the monies involved. All the monies involved in the building of the second Niger bridge largely have been handled by the NSIA.
“Yeah, we can tell you, over 90% of it has been spent in the administration of this President. So I think it’s important that it is clear. A lot of work has been done there. Abuja-Kaduna-Kano road is ongoing. We’ve made more progress on Kaduna-Zaria-Kano Road, Abuja-Kaduna.
“The President recently approved for the NSA through some of the gains made from managing the PIDF to buy 16 patrol trucks given to the police to ensure that every 10 kilometres of the Abuja-Kaduna road there’s a patrol truck to improve security.
“There’s a lot of work now being done to get the contractors back to the site and working. So you’ll see more progress there. But I will encourage you, those of you who are able, to drive through to Kaduna, you’ll see what a beautiful piece of work is being done on the Abuja-Kaduna-Kano road. Lagos-Ibadan is ongoing, hopefully, all completed and commissioned between the end of this year and the middle of next year. Abuja-Kaduna road, sadly, will go beyond that because of the Abuja-Kaduna end but a lot of work is going on.”
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105 tons of fertilizer raw materials coming from Russia, Canada ― NSIA
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