The African Development Bank (AFDB) has declared intentions to support fertilizer production in Nigeria with 100 million dollars.
This decision is basically towards ensuring that the agricultural sector in Nigeria as well as Africa is massively developed.
Speaking on the key industrial initiatives and projects of the bank in Abidjan, the Industrial Development Manager of the bank, Mr. Alhassane Haidara, disclosed this information, saying that “We are going to finance a huge fertilizer plant for the production of Uriah, Ammonia, among others and we are partnering with many companies to get it done. The plant will be one of the largest fertilizer plants not only in Africa but in the world”.
According to the Manager, the fertilizer production will leverage on Nigeria’s huge gas reserve to power the plant and transform the raw materials.
Adding that the bottom line of this move is to promote the growth of the agricultural sector in Nigeria and Africa at large.
He noted that there were lots of interest in Nigeria to develop the agriculture and other sectors of the economy.
Other plans of the bank which the Manager mentioned were on the projects for the petrol chemical sector, which also linked with the fertilizer production.