Nigeria and Morocco have signed an agreement to develop a $1.3 billion Basic Chemicals Platform in Nigeria that will produce Ammonia and various NPK and DAP fertilisers, using Nigeria’s gas reserves. We are well on our way to becoming a regional and global fertiliser power house.
The new Plant when completed will complement the existing Dangote & Indorama Chemicals facilities which produce urea,ammonia & other industrial raw materials. These are in addition to dozens of fertilizer blending plants we‘ve revived under the Presidential Fertilizer Initiative.
I am pleased with the partnership and support of the Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN), and the progress they have made over the past five years. Today, we are seeing the fruits of their smart, long-term and patriotic investment decisions.
One commendable trait well worth mentioning is that each one of FEPSAN’s investments had been balanced between city and rural Nigeria. These are the sorts of investments had to cope with the unemployment and security challenges our nation is going through today.
We ought to make unique attempt to make sure that Nigeria’s Rural regions are not left out. Investments and the creation of employment opportunities need to attempt to be inclusive.
As we continue to enlarge our security operations to carry an cease to these challenges, it’s far crucial to note that peace and prosperity can most effective be sustained if we together and actively help investments that take possibilities to our rural residents.
I therefore urge our governors, bankers, buyers and entrepreneurs to appearance beyond our towns on the subject of investments.
As we’ve seen from Nigeria’s five-year fertiliser revolution, if investors are inclined to bear the quick-term ‘start-up’ pains, they will without a doubt gain from long-term sustainable and giant profits.
Let me also use this possibility, on behalf of Nigerians, to thank my brother and friend, His Majesty, the King of Morocco for being with us during this tough but exciting adventure.
This together useful partnership between our nations is a true example of ways intra-Africa change and partnership have to paintings.