An agreement between the governments of Nigeria and Morocco, anchored by Fertilizer Producers and Suppliers Association of Nigeria (FEPSAN), and a Moroccan company, OCP will yield one million tons of fertilizer through local production for the next farming season.
This will be a short term solution that will, by a signed agreement also force the price of fertilizer from N8,000 to a low of about N5,000.
In a statement by the Presidency, a Memorandum of Understanding also signed during the visit of King Mohammed VI of Morocco to Nigeria by Mr. Thomas Etuh, President of FEPSAN and Dr. Mostafa Terrab, Chairman and Chief Executive Officer of the OCP Group, FEPSAN and OCP, will come together to promote innovation in an effort to contribute towards productivity-led agricultural growth and improve farmer livelihood.
In a statement by the Presidency, a Memorandum of Understanding also signed during the visit of King Mohammed VI of Morocco to Nigeria by Mr. Thomas Etuh, President of FEPSAN and Dr. Mostafa Terrab, Chairman and Chief Executive Officer of the OCP Group, FEPSAN and OCP, will come together to promote innovation in an effort to contribute towards productivity-led agricultural growth and improve farmer livelihood.
OCP, a majority state-owned company of Morocco is a world leader in phosphate and its derivatives, committed to the development of agriculture in Africa.
The agreement also seeks to promote the use of agricultural inputs including access to adequate fertilizers as a major lever for improving agricultural productivity and farmers’ income.
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