NIGERIA- Thursday, 27th of July, a press release from the Indorama Corporation reported that Acting President, Prof. Yemi Osinbajo, in Port Harcourt, inaugurated a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the tune of $1.5 billion.
During the inauguration, the acting President reminded Nigerians that time has come for them to grow whatever they eat and produce whatever they consume. According to him, the development illustrates the vision of the Buhari led administration.
“What Indorama is accomplishing today is very much in line with President Buhari’s vision for a country that produces what it consumes and grows what it eats. If you had to sum up our vision for the Nigerian economy in a few words, these would suffice. Grow what we eat, produce what we consume.”
According to the report, Prof Osinbajo commended Indorama for keying into the Presidential Fertilizer initiative which President Buhari launched last year to make fertilizers cheaper nationwide.
“At the end of last year, the President launched a Presidential Fertilizer Initiative, to ensure the availability of cheaper fertilizer to our farmers, to support what we’re doing in agriculture, in the production of rice and wheat and other staples.
“That Fertilizer Initiative, now well underway, has created significant economic opportunities for companies like Indorama Eleme Fertilizer & Chemicals Limited.
“I have been informed that Indorama will this year alone supply about 360,000 Metric Tons of Urea to Fertilizer blenders, which, in turn, will produce NPK fertilizer for the benefit of farmers across the country.
“This is the kind of economic progress we’re after, in which every unlocked opportunity proceeds to unlock several others, across multiple sectors of the economy.”
The acting President disclosed that the Buhari administration will continue to support Indorama Eleme Petrochemicals Limited, which was privatized in 2006 by the Federal Government.
“We will continue to support Indorama Eleme Petrochemicals Limited’s expansion ambitions. Our commitment to the privatization program is equally assured, and we will continue to do everything to support investors to maximize the potential of their assets.”
Correspondent: Ridwan A. Olayiwola
