• Says early procurement strategy secured fertilisers for wet season, saved over $42m
Ndubuisi Francis in Abuja
The Ministry of Finance Incorporated (MOFI) has stated that Nigeria is not exposed to the current disruptions affecting global fertiliser markets, attributing this to its early procurement strategy, designed to shield Nigeria from external shocks occasioned by the ongoing Middle East conflict which led to the blockade of the Strait of Hormuz.
In a statement, MOFI said while several countries across Africa grapple with fertiliser shortages and rising input costs triggered by fresh global disruptions, Nigeria had secured its fertiliser supply for the 2026 wet season, following early procurement decisions that have also saved the country over $42 million.
The latest disruptions, linked to escalating tensions affecting critical global shipping routes, have pushed up freight costs and driven increases in the prices of key fertiliser inputs, including Granular Ammonium Sulphate (GAS), Diammonium Phosphate (DAP), and Muriate of Potash (MOP).
