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HomeBusiness/EconomyPresidency lauds Indorama for supporting FG's fertilizer initiative - From Chukwudi Ejimofor/PH

Presidency lauds Indorama for supporting FG’s fertilizer initiative – From Chukwudi Ejimofor/PH

Prof. Gambari (middle) with Finance Minister Mrs. Ahmed (right) and MD Indorama Mr. Mundra (left) during the visit

The Chief of Staff to President Muhammadu Buhari, Prof. Ibrahim Gambari, and the Minister of Finance, Budget and National Planning Dr (Mrs) Zainab Shamsuna Ahmed, have commended Indorama-Nigeria for its immense contributions to the Presidential Fertilizer Initiative (PFI) in the past five years.

Prof. Gambari also said that Indorama Fertilizer Limited has been a major supporter of President Buhari’s agricultural revolution with its production of 3 million metric tons of Urea per annum through its two world-class fertilizer plants in Port Harcourt, Rivers State. 

A statement by Dr. Jossy Nkwocha, Head, Corporate Communications of the company, and made available to Summit News,  said they spoke on Saturday 9th April 2022 when they visited the Petrochemicals and Fertilizer plants of Indorama-Nigeria in Eleme, Rivers State, in the company of Managing Director/CEO of the Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji.

Prof Gambari said they were quite impressed with Indorama’s huge investments in petrochemicals, fertilizer, gas pipeline, port development and allied utilities, which the company put at 3.5 billion US Dollars.

The Chief of Staff noted that Indorama’s vision is in line with President Buhari’s economic diversification agenda.

He added that they were impressed with Indorama’s vision to build Africa’s largest petrochemicals and fertilizer hub in Nigeria.

“The government will support all genuine initiatives at industrializing the country and supplying fertilizers to millions of farmers across the country,” he said.

He also said the Federal Government is happy that Indorama-Nigeria has in the past few years become a major exporter of fertilizers to earn foreign exchange.

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On her part, the Finance Minister, Dr Ahmed said her visit has awakened her interest in what can be achieved for the country through the development of the gas value chain.

 Managing Director of Indorama-Nigeria, Mr Manish Mundra and other top Management team, had earlier taken the  trio and their entourage on facility tour of the massive Indorama industrial complex.

After seeing the massive investments and operations fuelling Nigeria’s industrialization and agricultural  revolution, the Chief of Staff said: “indeed seeing is believing, we have come, seen and are very impressed”.

Earlier, Mr. Mundra, in a presentation noted that despite the spiralling price of fertilizer in the international market, Indorama is ensuring that Nigerian farmers get the commodity at the cheapest prices in the world.

“Indorama has been at the forefront of supporting the Presidential Fertilizer Initiative by supplying urea on a timely basis.” 

He added that the company’s future expansion plan of $3 billion investment will make Nigeria the largest petrochemicals hub in Africa by 2026.

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