President Bola Ahmed Tinubu has disclosed that Nigeria saved N61.58 billion through strategic fertiliser procurement measures, while securing more than 449,000 metric tonnes of fertiliser inputs amid global supply disruptions.
The development was disclosed in a statement posted on the President’s official page on June 18, 2026.
According to Tinubu, the intervention formed part of efforts under the Presidential Fertiliser Initiative (PFI), which was restructured under the Ministry of Finance Incorporated (MOFI) to address challenges posed by global supply chain disruptions and rising fertiliser input costs.
The President noted that conflicts in the Middle East and disruptions in global markets created pressure on fertiliser supply chains, with potential implications for farm productivity and food prices.
“Through the Presidential Fertiliser Initiative (PFI), now restructured under MOFI, we strengthened procurement, secured critical raw materials, signed forward agreements, improved coordination across the value chain, and protected Nigeria’s local fertiliser blending industry from the worst effects of global market disruption,” he stated.
Tinubu disclosed that as of May 2026, over 449,000 metric tonnes of fertiliser inputs had been secured, while 10 vessels carrying fertiliser materials had either been discharged or were in transit.
According to the President, Nigeria remains on track to deliver a 1.1 million metric tonne fertiliser programme in 2026, equivalent to approximately 22 million bags.
“Despite the global shocks, strategic contracting for key inputs also generated N61.58 billion in savings in 2026 alone, helping to keep fertiliser more affordable for farmers,” he said.
The President further stated that Nigeria currently has more
