President Muhammadu Buhari has ordered the reduction of NPK fertilizer price from N5,500 to N5,000.
The Vice-Chairman of the National Food Security Council, Atiku Bagudu, disclosed this to State House correspondents at the end of the Council meeting presided over by the Chief of Staff to the president, Prof. Ibrahim Gambari, at the Presidential Villa, Abuja, on Tuesday.
He said when the present administration came to power in 2015, fertilizer was sold for between N8,000 and N12,000.
The Kebbi State governor added that the price was reduced to ensure food security in the country.
He said “You are a living witness to the trend in the country. Before the program, fertilizer was sold for between N8,000 to N12,000 in 2016 and when we started the Presidential Fertilizer Initiative, it was brought down to N5,500 that is the NPK and this has been the trend for three years and now the president decided to reduce it by another N500.
“So you can sell fertilizer at N5000 to the farmers and the factory price at N4,500. This has been going on but we have a problem with one of our key raw materials, urea that is being supplied by Indorama out of Port Harcourt.”