Nigeria buys emergency Canadian potash to replace lost Russian supply - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 03/05/2022 20:11:00
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Nigeria had to buy emergency supplies of Canadian potash in April after the country was unable to import the key fertilizer from Russia due to the impact of Western sanctions, the head of Nigeria’s sovereign investment authority NSIA said.

An interior view of the storage warehouse is seen at Nutrien's Cory potash mine near Saskatoon, Saskatchewan, Canada.An interior view of the storage warehouse is seen at Nutrien's Cory potash mine near Saskatoon, Saskatchewan, Canada.

The International Monetary Fund said last week that the invasion had delivered a further “huge negative shock” to sub-Saharan Africa, driving food and energy prices higher and putting the most vulnerable people at risk of hunger.Nigeria has for years been battling double-digit inflation, which quickened to 15.

Orji said Nigeria has enough potash inventories to cover 40% of blending demand and bought three cargoes of Canadian potash, which should arrive within the next month. Normally, the country takes five Russian cargoes a year.

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