Business
OCP Africa Championing Agricultural Revolution Through Customised Fertilizer Blends
By Segun Olabode, Lagos
For Long, Nigerian farmers have been faced with several impediments to obtaining optimal value from their farmlands, ranging from low access to quality inputs, problematic soilssoils, and inadequate training on good agricultural practices; these challenges if not resolved will pose a threat to the nation’s food system.
In addressing the nation’s food security challenges, there is need to discontinue the use of generic fertilizer blends for all soil and crop types. There is no better time than now to introduce soil and crop specific fertilizers. The adoption of specialty fertilizers to address specific crop nutrition needs is an emerging trend in global agriculture practice due to different soil nutrient compositions. OCP Africa, a world leader in phosphate and its derivatives, believes that efficient use of specialty fertilizer is one of the best ways to increase farmers’ productivity and ensure food security.
To provide customized fertilizers in the Nigeria agricultural space, OCP Africa has taken the initiative by pioneering the research & development and production of crop and soil specific blends of fertilizer by establishing ultra-modern fertilizer blending plants in three states across Nigeria (Kaduna, Ogun and Sokoto).
Each of the three ultra-modern blending plants tagged “Centre of Excellence” comprises of a Blending facility capable of composing 5 macro and 5 micro-nutrient elements, a Fertilizer and Soil testing laboratory, a Retail outlet for agricultural products and services called the “Farm and Fortune Hub” and a Model Farm. The blending plants have a combined production capacity of 500,000MT per year. In line with the National Fertilizer Quality Control Act signed by President Muhammadu Buhari in year 2020, OCP Africa has deployed a state-of-the-art laboratory within the blending plant facilities to further ensure quality of its products meets nutrient specification.
Caleb Usoh, the Country Manager and Deputy Managing Director OCP Africa Nigeria disclosed that Ogun and Sokoto plants will commence production by 4th quarter of 2022 while the Kaduna plant which has been completed at the cost of $13.4 million commenced production in March 2022 and is slated for official commissioning by August 2022. The plant currently operates on a Toll Blending partnership arrangement that allows industry players and brand owners to leverage on OCP Africa’s plant capacity and expertise to provide quality fertilizers to their customers. The Kaduna plant currently engages over 250 persons in different job function all to foster a sustainable agricultural ecosystem in Nigeria.
READ ALSO: Stakeholders In Agric Business Seek Better Support For Vegetable Farmers
He also added that to further boost local production of fertilizers and enhance export capacity of Nigeria, OCP Africa is investing in a Joint Venture with the Nigerian Sovereign Investment Authority (NSIA) to develop an Ammonia and DAP Industrial plant. The $1.4 billion Industrial Plant project, to be cited in Akwa-Ibom is expected to utilize Nigerian gas and Moroccan phosphate to produce 750,000MT of ammonia and 1,000,000MT of phosphate fertilizers annually by 2025.
With the Nigerian consumption of NPK fertilizer blends projected to exceed 4,500,000 MT by the year 2030, OCP Africa is supporting the projected demand with massive investments in fertilizer production, R&D, distribution channel support, farmer-centric initiatives, among others with a view to actualizing the Nigeria vision of ensuring self-sufficiency in food production.
Business
FG Offers Up To 16.54% Yield On September Savings Bonds
The Federal Government, through the Debt Management Office, is offering investors annual yields of up to 16.541% on its September 2025 Federal Government of Nigeria Savings Bonds.
The DMO, in a circular on its website on Monday, announced that the subscription window opens immediately and will close on Friday, September 5, 2025, with settlement scheduled for September 10, 2025.
Coupon payments will be made quarterly on March 10, June 10, September 10, and December 10 and will be paid directly to investors.
The DMO offered investors two subscription categories of the Federal Government Savings Bond.
READ ALSO:DMO Unveils July FGN Savings Bond As CBN Offers N250bn In Treasury Bills
The first is a two-year bond, which will mature on September 10, 2027, and attracts an annual interest rate of 15.541 per cent.
The second is a three-year bond, set to mature on September 10, 2028, with a higher annual interest rate of 16.541 per cent.
The two-year bond interest rate rose to 15.541% in September 2025, up from 14.401% in August.
Similarly, the three-year bond recorded an increase to 16.541% in September, compared to 15.401% in the previous month.
The FGN Savings Bond programme, launched in 2017, aims to deepen the domestic bond market, promote financial inclusion, and give retail investors access to secure, low-risk government securities.
READ ALSO:Family Kicks As UK Varsity Sacks Nigerian Grandmother
Each bond unit is priced at ₦1,000, with a minimum subscription of ₦5,000 and additional subscriptions in multiples of ₦1,000. Individual investors can subscribe up to ₦50 million.
On the status of FGN Savings Bonds, DMO noted it “qualifies as securities in which trustees can invest under the Trustee Investment Act; Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
“Listed on The Nigerian Exchange Limited (and); qualifies as a liquid asset for liquidity ratio calculation for banks.”
The office said the bond is “backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.”
Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.
It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.
This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.
READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume
The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.
“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.
This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.
The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.
Business
Dangote Refinery Reduces Fuel Price
Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.
This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.
The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.
READ ALSO:Dangote Refinery Gets New CEO
“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
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