Mr Paul Kaizer, managing director of the firm revealed to Vanguard during a courtesy call on the Minister of State for Trade and Investment in Abuja that the company will start off with $100million after which it will increase the investment to $1billion within a five-year period.
Kaizer said: “First investment in the country is $100 million for production; we are looking at investment in the region of $1billion.
“We are bringing in the first instance, 25,000 tonnes as we are doing 100,000 tonnes this year and in 18 months, we will be producing 300,000 tonnes of MPK. And in the next five years, we are looking at producing 500,000 tonnes of fertiliser locally.”
On job creation for the Nigerian youths, he elucidated that the firm will first make do with 50 people but explained that production of MPK fertiliser in the country will create 5,000 indirect employments in the country.
He stated: “We will employ 50 people directly but it will generate over 5,000 indirect employment and that is going to bring down the price of fertiliser significantly because (as at today), all the fertilisers are imported.
“Once we are producing soil specific MPKs, the yield will increase tremendously so the income to the farmers is going to be huge.” On why the company chose Calabar port rather than Lagos, he said: “Lagos is congested but Calabar port is the friendliest port we have at the moment but the only problem is the draft that is not accommodating huge vessels.
“If you get to Lagos, you will pay congestion cost, aside that, we want to deliver fertilisers to the farmers right on time.” He noted that the company will in the near future make use of Koko port. “We are also looking at Koko port and with the way government is going about it, they are going to get it working.”
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