News
18 May 2018
AfDB approves $100m loan to boost Nigerian fertilizer production
In:
Agriculture/food chain
Region:
Middle East & Africa
The African Development Bank (AfDB) has approved a $100 million senior loan to Nigeria's Indorama Eleme Fertilizer & Chemicals to support the company's plans to double its fertilizer production from 1.4 million tonnes of urea to 2.8 million tonnes per annum.
The project will also address the problem of inadequate fertilizer utilization, which is considered one of the principal constraints to agricultural growth and development in Nigeria, and the entire African continent.
