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According to reports, the proposal of the Moroccan OCP company to establish a phosphate fertilizer production line in Nigeria has been approved.
The agreement was formally finalized after the Moroccan Minister of Foreign Affairs Nasser Bourita met with Nigerian President Mohamudu Buhari on July 15.
The new plant will help Nigeria increase its fertilizer supply and may even promote the export of fertilizer products to other West African countries.
So far, the plant's production capacity and product planning have not been announced.
It is understood that Nigeria had to purchase a large amount of ternary compound fertilizer from OCP every year to meet domestic demand.
In the first quarter of this year, at a business forum in Nigeria, Aliko Dangote stated that he would reach a superphosphate supply agreement with OCP to directly supply these products to a fertilizer plant planned to be built in Nigeria.
The fertilizer plant is part of the Dangote Group's strategy of replacing imports with self-production and increasing self-sufficiency in chemical fertilizers.
It is unclear whether the plant is related to the new fertilizer plant that OCP will build in Nigeria.
The agreement was formally finalized after the Moroccan Minister of Foreign Affairs Nasser Bourita met with Nigerian President Mohamudu Buhari on July 15.
The new plant will help Nigeria increase its fertilizer supply and may even promote the export of fertilizer products to other West African countries.
So far, the plant's production capacity and product planning have not been announced.
It is understood that Nigeria had to purchase a large amount of ternary compound fertilizer from OCP every year to meet domestic demand.
In the first quarter of this year, at a business forum in Nigeria, Aliko Dangote stated that he would reach a superphosphate supply agreement with OCP to directly supply these products to a fertilizer plant planned to be built in Nigeria.
The fertilizer plant is part of the Dangote Group's strategy of replacing imports with self-production and increasing self-sufficiency in chemical fertilizers.
It is unclear whether the plant is related to the new fertilizer plant that OCP will build in Nigeria.
