Fertilizer imports into Ghana and the West Africa sub-region especially from abroad is expected to drop drastically by the third quarter of next year.
This follows cement manufacturer Dangote’s commencement of the construction of a $2 billion fertilizer production plant with the capacity of processing over 3 million tonnes of the product annually, the largest single-fertilizer complex in the world.
The plant which covers 500 hectares of land is aimed at not only meeting the supply needs of farmers across the sub-region towards boosting crop yield but also to reduce product cost.
Speaking with Naija247news.com at the site at Lekki, Lagos state in Nigeria, General Manager of Dangote Fertilizer Limited, Anurag Jaiswal, said the impact on the economy of Nigeria and the entire region cannot be overemphasized.
“This is going to be one of the largest single capacity complex in the world producing in total 8,000 tonnes of urea daily. We’ll be having two trains of ammonia and two trains of urea and each train will produce 4,000 tonnes. So in a year it will be 3 million tonnes.
“It is much expensive to import from abroad due to freight cost but it will certainly be cheaper if you are importing from Nigeria. It will have a huge impact on the Nigerian economy because we will be saving a lot of foreign exchange,” he noted.
He also spoke about the impact of stopping fertilizer import from abroad on the Nigerian economy emphasising that the foreign exchange savings will be huge.
“This will also be good for African countries because if they import from Nigeria it will be cheaper than from abroad.
“We will also sell it much cheaper because the cost of production will be low due to the fact that we will be producing our own natural gas,” he stressed.