President Muhammadu Buhari says the 2.5 billion dollar Dangote Fertiliser Plant in Ibeju Lekki, Lagos, will boost Nigeria’s foreign exchange earnings and accelerate economic growth.
“It will reduce our dependence on importation of fertiliser, create jobs, increase the inflow of foreign exchange and accelerate economic growth.” “This is very pleasing because job creation by the private sector will help to improve security and take thousands of youths off the streets.” He noted that the agricultural sector was a critical aspect of the economy and availability and affordability of fertiliser would lead to increased yields for farmers.
“Furthermore, we are partnering with the private sector through a tax credit scheme for the rehabilitation of roads across Nigeria under the Executive Order Seven. Emefiele noted that this had led to a significant increase of active fertiliser blending plants in Nigeria from seven in 2015 to 48 in 2022.
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