Presidential Fertiliser Initiative (PFI NPK Limited) said it has shielded Nigeria’s agricultural sector from an impending input crisis, saving the country an estimated $43.99 million (approximately N61.58 billion) ahead of the 2026 wet season.PFI NPK Limited, the wholly owned entity of the Ministry of Finance Incorporated (MOFI) and implementation vehicle for the Presidential Fertiliser Initiative, confirmed that the Federal Government secured its 2026 supply position months before the current market volatility.The company in a press statement issued to journalists at the weekend said it locked in nine vessels carrying a combined 407,304.00 metric tonnes. This it said brings total raw materials to 534,219 MT, including the opening balance at the beginning of the 2026 cycle, available for NPK fertiliser production.
In his remarks, Armstrong Ume Takang, Director, PFI NPK Limited, said that the Federal Government’s early procurement strategy was designed to shield Nigeria from external shocks.
“We took a deliberate decision to move early, well ahead of market pressures, by securing supply, locking in pricing, and putting the necessary financial instruments in place. That foresight by the Federal Government is what has ensured that Nigeria is not exposed to the disruptions currently affecting global fertiliser markets,” he said.
