Until the late 1970’s ,Agriculture used to be the mainstay of the Nigerian economy contributing as much as over 90% of the Gross Domestic Product {GDP} and employing over 70% of the entire population.directly or indirectly.
Then each region in the country produced different agricultural products suitable to their soil and climatic condition. The northern part of the country produce mainly groundnuts, soya bean,hide and skin,cotton seed in large quantity while the south eastern part of the country produce oil palms products. In south western Nigeria Cocoa,rubber,oil palm and kola nut are produced in large quantity for export.
However, upon the discovery of crude oil in commercial quantity and the subsequent drilling of the first oil well in Oloibiri in present day Bayelsa state,the agricultural sector in Nigeria suffered neglect from successive government because of the easy and huge revenue the government were receiving as royalty and other taxes from the oil producing companies.
This situation as resulted in the agricultural sector contributing less than 10% of the Gross Domestic Product {GDP} of the country in the past twenty {20} years in-spite f the fact that over 70% of the total land area of Nigeria is good for Agricultural production.
With less achievement in the social and economic development of the country over thirty {30} years of producing hydrocarbon,government at the federal,state and local level has come to the realization that unless the country returns to agriculture as the mainstay of the economy less would be achieved. Not just in terms of revenue would a shift back to agriculture be beneficial but in the use of modern technology that are cost effective to feed the teaming population.
Nigeria has a lot of comparative advantage in the production of so many agricultural produce given the good nature of our soil and climatic condition. The government is providing irrigation services to encourage all year round farming in the country .
Fertilizer is a very important input in any agrarian society like Nigeria where over 50% of the population still engage in one form of farming or the other . It is a known fact that no meaningful agricultural operations can be carried out without the application of the right fertilizer to enhance good yield.
The most common type of fertilizer in Nigeria are the inorganic type in different NPK composition ,NPK standing for Nitrogen ,Phosphorous and Potassium.
However,due to a number of factors like the cost and ease of procurement and the harmful nature of the chemicals to the environment ,farmers and indeed government would readily partner with investors that can a batter alternative,as can be seen with the Lagos state government that is producing fertilizer from about 30% of the total waste generated in the state and sales to farmers at a much better rate compared to the inorganic types.
Vermicompost is the product or process of composting utilizing various species of worms, usually red wigglers, white worms, and earthworms to create a heterogeneous mixture of decomposing vegetable or food waste, bedding materials, and vermicast. Vermicast, similarly known as worm castings, worm humus or worm manure, is the end-product of the breakdown of organic matter by a species of earthworm.
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.
Vericompost production would provide a cost effective benefit for farmers and government would be a viable business to venture into.
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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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