The fertiliser plant, with installed
capacity of three million metric tonnes of urea per annum, is located in
Ibeju-Lekki, within the Lekki Free Trade Zone.
Here is the CBN Governor, Godwin Emefiele's
Goodwill Message at the commissioning of Dangote fertilizer plant.
Protocol and Opening Pleasantries:
It is indeed my pleasure to be here today
at the commissioning of this 3 million tons per annum fertilizer plant. I am
delighted that a Nigerian, in person of Alhaji Aliko Dangote, has taken , not
just this great initiative of helping to solve our perennial petrochemical
products imports problem including fertilizer, but has also taken advantage of
the emerging huge market opportunity presented by recent global developments.
President sir , in the early days of my
stewardship as CBN Governor under your administration , you made your vision
for our country clear to me. This vision was wrapped around the broad theme of
self-introspection for local resources and self-sufficiency in local
consumption. In summary your excellency , you told me that you would like to
see urgent support for our farmers, small businesses, and large manufacturers
so as to grow and diversify the nation’s economic base . Your excellency wanted
to see a Nigeria that produced what it consumed and reduced FX expenditure on
agricultural imports.
Given our unflinching believe in your
vision your excellency , we immediately set out to work at the CBN. We
thoroughly studied, deeply assimilated, and enthusiastically implemented this
vision from Day One of your administration. It is based on the many nights and
days of painstaking work in pursuit of this vision that today’s ceremony is
emotional for us at the CBN.
Indeed, your excellency, the completion of
this plant is a stellar example of the realization of your vision. It is only
fitting, therefore, that this plant is being commissioned by Mr. President
himself, the original owner and protector of this vision.
For your unparalleled leadership and timely
vision, and on behalf of my grateful colleagues at the CBN, I say a heartfelt
“Thank you”, Your Excellency Sir. To avoid losing momentum and backtracking on
these gains, we will work hard, EVERYDAY, to protect your legacy and ensure
that posterity remembers you for all you have done for our country.
Your excellencies , distinguished ladies
and gentlemen, let me stress that , this fertilizer plant is timely when one
considers recent developments in the global market, where prices of wheat,
fertilizer and crude oil spiked by over 20 percent, following the Russia –
Ukraine war.
In addition to the lessons we learnt from
the protectionist actions of countries during the early days of COVID-19, this
investment is again a glaring testament to the foresight and tireless efforts
of Mr. President in encouraging domestic production of goods that can be
produced in Nigeria, especially agriculture. This would not only help to enable
greater productivity of our agricultural sector but would also help in
insulating our Nigerian farmers from depending on imported fertilizer.
Prior to Mr. President assuming office in
2015, Nigeria imported virtually all its fertilizer products to support its
agricultural sector.
In response to this situation, Mr.
President inaugurated the Presidential Fertilizer Initiative ,chaired by Jigawa
Governor, Alhaji Badaru and charged us with resolving this perennial fertilizer
shortage problem in Nigeria. I am delighted to note that their work and the
continued support of Mr. President has resulted in a significant increase in
our nation’s blending capacity from 7 plants in 2015 to over 48 active
fertilizer blending plants today. Indeed, during the past 5 years, over 35
million bags of blended fertilizer has been produced in Nigeria. Consequently,
our import bill on fertilizer has not only declined significantly but we are also
witnessing rising investment in the fertilizer industry, such as the one being
commissioned today by the Dangote Group.
Today , Nigeria is self-sufficient in the
production of urea, and we are also the leading producer of urea in the African
continent. There is no doubt that improving access to fertilizer will
contribute to significant improvements in the productivity of our local
farmers. But probably more importantly, it will enhance our nation’s drive to
improve food security and ensure we consume what we produce in Nigeria, thereby
fulfilling another key promise and vision of this Administration.
President, with your clear leadership, and
persistent guidance, the agricultural sector has increased its performance and
contribution to growth. The last GDP report by the NBS indicated that the
agricultural sector accounted for about 27.0 percent of the growth, a testament
to the president’s support to the sector.
Distinguished ladies and gentlemen, this
Dangote fertilizer plant with an installed capacity of over 3 million metric
tons per annum is a very significant feat in the diversification agenda of Mr.
President. This is because it will help to increase the value chain in the
petrol-chemical and allied sector, create jobs for our youths and boost our
agricultural productivity. Mr President Sir, time permitting, we request you to
take a tour of not only the fertilizer plant, but also the Dangote Refinery and
Petrochemical Plant, which altogether is an investment of over $17.5 Billion.
At this juncture, Your Excellencies, ladies
and gentlemen, I would like to thank Alhaji Aliko Dangote as well as the Board
and Management of the Dangote Group for this gigantic project; meant to save
Nigeria from the stress of sourcing FOREX to import these products.. I want to
assure you that the Central Bank of Nigeria will continue to provide not just
the conducive environment required to thrive, but providing willing investors
in the fertilizer and other industries,
the necessary support to make similar investments.
Before I close, let also thank the Governor
of Lagos State , Mr Babajide Sanwo Olu for providing the enabling environment
for this project and other businesses in Nigeria.
Finally, I want to thank Mr. President for
the enormous support and encouragement given to the private sector that is
helping them to contribute immensely to the growth of the economy. It is my
hope that these foundations that you laid will become the permanent bedrock
upon which we can continue to create an equitable and thriving economy for the
good of Nigerians.
Thank you and God bless the Federal
Republic of Nigeria.