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Message: [QUOTE="Munyaradzi Mafaro, post: 79550, member: 636"] The Fertilizer Producers and Suppliers Association of Nigeria says it's working with the Ministry of Finance to tackle high fertilizer costs. FEPSAN's Executive Secretary, Mr. Gideon Negedu, explained that the main problems are expensive imported components, global supply issues, and unstable foreign exchange rates. Producers rely on materials like phosphate from Morocco, making them vulnerable to international market shocks. Negedu pointed out that producers have sought cheaper foreign sources to keep operations running, stating they cannot produce at a loss. With the Ministry now overseeing the Presidential Fertilizer Initiative, the focus is on securing funds for essential imports. He noted some price relief recently, with bag costs dropping from peaks around fifty-seven thousand naira to a range between thirty-five and forty-two thousand. However, the naira's weakness against the dollar continues to drive up production and import expenses. Market reports indicate a new wave of price instability globally ahead of the 2026 planting season. Costs for key nutrients are climbing again due to trade and energy disruptions, reversing the declines seen in prior years. For instance, phosphate prices saw a sharp increase over an eight-month period. This trend underscores Nigeria's urgent need to reduce import reliance. FEPSAN President Sadiq Kassim highlighted the delayed Akwa Ibom fertilizer complex, a joint project with Morocco, as critical for self-sufficiency. The plant aims to use Nigerian gas and Moroccan phosphate expertise to produce components locally. Kassim called the project a vital South-South cooperation, stressing that further delays hurt national food security goals and force continued massive imports, with over half a million metric tons of raw materials brought into the country last year alone. [/QUOTE]

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