In Nigeria, agriculture has remained the largest sector of the economy. It generates employment for about 70% of Nigeria’s population and contributes about 40% to the Gross Domestic Product (GDP) with crops accounting for 80%, livestock 13%, forestry 3% and fishery 4%. It plays significant roles in the nation’s economic development.
These roles include: contribution to the country’s gross domestic product; source of income and decent living for a large proportion of the population; provision of adequate food for the people; supply of raw materials required by the industrial sector; generation of foreign exchange through export; provision of employment opportunities for the teeming population.
Nigeria has a land area of 98.3m hectares. At present about 34m hectares or 48% are under cultivation. Under the (1999) Constitution, responsibility for agricultural and rural development is shared among the federal, state and local governments. There is no doubt that considering the vast area of uncultivated land coupled with the natural fertility of its soil, Nigeria has great agricultural potentials.
Fertilizer is a very important input in Agriculture that increases food production and if Nigeria is to achieve food security, proper attention has to be given to the production and distribution of fertilizer.
Fertilizer is any organic or inorganic material of natural or synthetic origin (other than liming materials) that is added to soil to supply one or more plant nutrients essential to the growth of plants. Conservative estimates report 30 to 50% of crop yields are attributed to natural or synthetic commercial fertilizer.
The most common type of fertiliser in Nigeria is the in-organic type in different NPK composition. N.P.K here stands for Nitrogen, Phosphorous, and Potassium. The composition is made depending on the type of soil and crops.
The major raw materials for fertilizer production include – ammonia gas, phosphoric acid, Phosphate Powder, Potash, Calcium Carbonate, Clay and fillers. All these raw materials are abundant in Nigeria.
It is a fact that the fertilizer industry is a very large and complicated one and it will be impossible for government to coordinate and control the market efficiently. About 70% of the population (about 105 million people) are engaged in small, medium or large –scale farming or other agro related business.
Fertilizer consumption (kilograms per hectare of arable land) in Nigeria was 2.12 as of 2009. Its highest value over the past 7 years was 9.98 in 2006, while its lowest value was 2.12 in 2009.
The market for fertilizer in Nigeria is national ,expanding and sustainable. The market is second only to petroleum products in Nigeria. Various tiers of government gives great priority to it’s availability and distribution.
It is important to note that over 80% of all the fertilizer consumed in the country is imported.
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Our reports are designed to assist start-ups to understand the legal and financial requirements of starting the business, the market trends vis-a-vis demand and supply, competition, risk identification and mitigation strategies.
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Report Title: ESTABLISHING A FERTILIZER BLENDING PLANT IN NIGERIA; THE FEASIBILITY REPORT.
Report Code: FORA/054-807/2015/FERTILIZERBLENDING/0096-77848-67
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