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Nigeria's federal government plan to revive abandoned fertilizer blending plants is progressing, with seven of 32 plants now producing under the Presidential Fertiliser Initiative. National supply reportedly rose from 500,000 to one million tonnes, and a 50kg bag fell from N10,000 to N5,500.
Plants are using phosphate imported from Morocco.
Expanded domestic blending in Nigeria increases demand for imported phosphate from Morocco and lowers local fertilizer costs, a modest supportive factor for phosphate rock demand.
thenationonlineng.netThe NationJan 18, 2018Not enough comparable past events yet for a historical read.
After 151 past bullish policy events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.6% to +0.9%), and +1.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
