….Transfers Programme Implementation To MOFI
The Nigeria Sovereign Investment Authority (NSIA) has reported that it delivered more than 128 million bags of blended high-quality fertiliser to Nigerian farmers in the 10-year period of its implementation of the Presidential Fertiliser Initiative (PFI) programme.
This is even as it disclosed that through strategic direction of the PFI programme, which holistically revitalized the previously moribund fertilizer blending operations in the agricultural sector, the number of operational blending plants surged from four in 2016 to over 90 by July this year.
The NSIA Managing Director/CEO, Aminu Umar-Sadiq, spoke on the authority’s achievements at the annual Presidential Fertiliser Initiative (PFI) forum organized for key stakeholders in the nation’s agricultural sector value to deliberate on successes of PFI programme and chart the way forward in its implementation.
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The NSIA boss said: “This event is significant because we are honouring nearly a decade of positive impact, strategic partnership, growth and reform. The PFI is a model of what collaboration between public institutions, and the private sector can achieve. We remain committed to strategic partnerships that enhance positive socio-economic outcomes for Nigerians@”
The event also marked the formal transition of the Presidential Fertilizer Initiative (PFI) programme to the Ministry of Finance Incorporated (MOFI).
Since its launch in 2016, the PFI has evolved into one of Nigeria’s most impactful agricultural interventions. Designed to address structural inefficiencies in the fertilizer supply chain and reduce dependency on imports, the initiative has been championed by the NSIA under the direction of the Federal Government of Nigeria.
The sundry interventions had significantly improved fertiliser accessibility and affordability, enhanced food security, and created over 100,000 direct and indirect jobs across the country.
Despite global supply chain disruptions caused by the COVID-19 pandemic, the Russia-Ukraine conflict, persistent foreign exchange volatility, macroeconomic pressures like the devaluation of the naira, PFI remained resilient as NSIA, working closely with relevant stakeholders, ensured uninterrupted supply of fertiliser to farmers at stable prices.
In recent years, the initiative has undergone a strategic restructuring which focused on positioning PFI for enhanced financial and operational sustainability.
The next phase includes the introduction of wet blend technology, geographic expansion to underserved regions, and a stronger focus on private sector participation, setting the stage for additional positive impact.
By strategically leading the PFI programme for almost a decade, NSIA re-validates its commitment to advance food security, empower stakeholders within the value chain and ultimately propel sustainable economic growth and development in Nigeria.
As the PFI transitions to MOFI, the NSIA management has restated its focus on catalysing impactful investments, promoting public-private sector collaboration, and support for initiatives that optimise positive outcomes in the country.
