The Vice President will be commissioning the NPK fertilizer plant to reiterate the Federal Government’s actualization of the Presidential Fertilizer Initiative (PFI). Launched by President Muhammadu Buhari in 2016, the initiative is part of the administration’s drive towards achieving food self-sufficiency and economic diversification through agriculture, to which WACOT Limited has been contributing continuously.
It would be recalled that the Vice President recently commissioned the multi-billion naira WACOT Rice Mill in Argungu, Kebbi state. The objective of the Presidential Fertilizer Initiative is to ‘disrupt’ the importation of blended NPK fertilizer, by directly negotiating discounted contracts for procuring core raw materials, locally blending same, and selling NPK fertilizer to farmers at a significantly lower price.
The rejuvenation of the Edo State Fertilizer plant is an integral part of Governor Obaseki’s Accelerated Agriculture Initiative designed to support and actualize the job creation and food sustainability vision of the Buhari administration, through Public Private Partnership (PPP). This according to the Governor will not only enhance the state’s socio-economic status but will also create an avenue for the youths to leverage on the expertise of major players in the Agriculture sector.
The Edo State Fertilizer plant managed by WACOT Limited will benefit from the unprecedented bilateral cooperation between the Governments of Nigeria and Morocco, which has already resulted in the revitalization of 11 fertilizer blending plants across the country. Speaking recently, while inspecting the Edo State Fertilizer plant, Governor Obaseki commended WACOT Limited and used the opportunity to reiterate his administration’s commitment towards helping to achieve the Federal Government’s agricultural self-sufficiency for the country.
Mr. Rahul Savara, the Group Managing Director of TGI Group, the parent company of WACOT Limited, mentioned that the plant has been optimized for both physical and compound blending and that it is ready for operation. Speaking on the Group’s involvement in the Agricultural sector, Mr. Savara said, “We are firm believers in this administration’s vision of attaining food self-sufficiency. Therefore we will continue to invest in the agricultural sector significantly, with interventions targeted at the various agricultural value chain”.
Also commenting on the development, Mr. Ujwal Senapati, Managing Director of WACOT Limited said, “we will continue to deliver quality agricultural inputs at affordable prices, and in the near future, we will be producing crop-specific fertilizer for a diverse range of crops locally”. WACOT Limited is a market leader in agro-processing, manufacturing, and distribution of certified agricultural inputs including seeds, fertilizers, pesticides, etc.
