Additional Investment in fertilizer and Power Plant

The fertilizer production in Nigeria will be given a boost with the addition of 100, 000 Metric Tons of Ammonia and 165,000 Mt of Urea.

This was revealed at a meeting of the Hon. Minister of Agriculture with a group of Investors comprising of Chairman and CEO of Obax Petroleum and an 11 man team from 4 leading Chinese fertilizer and power companies. The project which will gulp the total sum of $300 million, shall be sited at Ologbo, Edo State. Arc O. Patric O’Basuyi expressed his appreciation for the support the project has received from government at all levels, including the Community where the project is to be sited. He also revealed the plan of Obax and other group to establish Ethanol from cassava plant and Rice production and processing. On cassava, he told the audience that a 20,000 ha farm has been provided by the Edo State Government and work has commenced on planting of cassava.

In his response, the Hon. Minister, represented by Mr. Bolawa Oso, Director Fertilizer reassured the team of complete Ministry’s support from start to finish. The Minister explained that the job of the government is to provide the enabling environment for the private sector to thrive and the agricultural transformation agenda is private sector focused, hence the tremendous support the Ministry gives to private sector Investment.