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April 16, 2007

Nigeria to spend $270 million on fertilizer, produce storage facilities

The Nigerian federal government has approved 34.54 billion Naira ($270 million) for procurement of different grades of fertilizers for distribution to the country's 36 states. The money also includes the the provision of storage facilities for produce at the cargo terminal of the Ilorin International Airport in Kwara State.

Frank Nweke, minister of information, said N33.8 billion ($266 million) would be sourced from the Fertiliser Revolving Account and the Rice Development Levy to procure the fertilisers. fertilizer retail prizes are normally subsidised by 50 per cent by the federal government, with an additional 25 per cent subsidy coming from the states. The balance of N536.8 million ($4 million) was approved for the construction of cold storage facilities at the Ilorin Airport to aid farm produce evacuation and exports by Zimbabwean farmers in Kwara State.

But public expenditure analysts are weary of the decision to approve spending of such a large chunk of money considering that the tenure of the present administration under outgoing President Olusegun Obasanjo will end in less than two months. They also referred to the Presidency's directive in early April to the minister of finance to stop ministerial capital expenditure as from April 9. This was after it was discovered that many ministers were awarding contracts from their capital votes as parting gifts either directly to themselves or to their cronies.

The federal government will make the bulk purchase of the fertilisers on behalf of the states. Nweke said it is not compulsory for any state government to take delivery of fertilisers from the federal government if it does not need the commodity. "The states that do not want it can make their own independent arrangement," he said. The minister explained that government is making these commitments even at a time this administration is winding up, to further boost agricultural productivity and ensure food security in the country.

Financial Standard

 

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