The Federal Government said it is expecting raw materials for the production of fertiliser from Canada and Russia to increase production and distribution to farmers in the current farming season.
It also said the movement of commodities between both nations is still possible because the Russia-Nigeria potassium link was preserved despite the ongoing Russia-Ukraine war.
The Chief Executive Officer of The Nigeria Sovereign Investment Authority, Uche Orji, disclosed this on Thursday at the 39th session of the State House briefing organised by the Presidential Communications Team at the Presidential Villa, Abuja.
Orji said, “We have a total of 105 metric tonnes coming, of which 35,000 is from Russia and the rest is from Canada.
“But now that we have re-established the Russia-Nigeria link for potassium, subsequent transactions will likely come from Russia just because it saves us time, it’s one week shorter in terms of sailing time for the vessel from Russia versus Canada.
“It’s not even near Canada, it’s central Canada that this thing comes from. So, it’s a long way to get to Nigeria.”
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The NSIA Chief noted that with only N19bn spent on the ongoing Second Niger Bridge project before 2015, the Buhari-led government has so far sunk more than N100bn into the project, under the Presidential Infrastructure Development Fund.
Orji noted that the funds invested into the Niger Bridge project and others such as the Lagos-Ibadan Expressway, Second Niger Bridge and Abuja-Kaduna-Kano Highway were part of the recovered $300m Abacha loot.
He said the government insists that the recovered loot be spent on road infrastructure projects.