2026 farming: PFI releases 223,000mt of fertiliser to blending plants, saves $42

The Presidential Fertiliser Initiative (PFI) has stated that  Nigeria has secured its fertiliser supply for the 2026 wet season, following early procurement decisions that have also saved the country over $42 million. In a statement yesterday, the PFI, a wholly entity of the Ministry of Finance Incorporated (MOFI) said the latest disruptions, linked to escalating […]

The Presidential Fertiliser Initiative (PFI) has stated that  Nigeria has secured its fertiliser supply for the 2026 wet season, following early procurement decisions that have also saved the country over $42 million.

In a statement yesterday, the PFI, a wholly entity of the Ministry of Finance Incorporated (MOFI) said the latest disruptions, linked to escalating tensions affecting critical global shipping routes, have pushed up freight costs and driven increases in the prices of key fertiliser inputs, including Granular Ammonium Sulphate (GAS), Diammonium Phosphate (DAP), and Muriate of Potash (MOP).

“PFI NPK Limited, the wholly owned entity of the Ministry of Finance Incorporated (MOFI) and implementation vehicle for the Presidential Fertiliser Initiative (PFI), confirmed that it secured its 2026 supply position months before the current market volatility.

“According to official Q1, 2026 procurement and shipment records made available to the press, the company locked in nine (9) vessels carrying a combined 407,304.00 metric tonnes, making a total of 534,219 MT of raw materials including the opening balance at the beginning of the 2026 cycle, available for NPK fertiliser production. All associated Letters of Credit have been fully established or settled, ensuring supply continuity.

“The records further show that as of mid-April 2026, over 323,109.24 metric tonnes (approximately 6.5 million 50kg bags) had been released to registered blending plants nationwide, with more than 198,264.41 metric tonnes (approximately 4 million 50kg bags) already offtaken, indicating active distribution across the country ahead of peak planting,” it said.

Speaking on the development, the Director of PFI NPK Limited, Dr. Armstrong Ume Takang, who is also the MD of Ministry of Finance Incorporated (MOFI), said the 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 is what has ensured that Nigeria is not exposed to the disruptions currently affecting global fertiliser markets,” he said.

The statement further added that financial data reviewed alongside the procurement records indicate that the early purchasing strategy generated total savings of $43.99 million, equivalent to approximately ₦61.58 billion, when compared with prevailing spot market prices.