Nigeria turned to Canada in April to buy emergency supplies of potash after it was unable to import the key fertiliser from Russia amid Western sanctions.
Gatekeepers News reports that the managing director of the Nigeria Sovereign Investment Authority (NSIA), Uche Orji made the disclosure according to Reuters which quoted him as saying Nigeria bought three cargoes of Canadian potash. The cargoes are expected within the next month. In a typical year, the country receives five Russian cargoes.
“Russia was unable to deliver, so we bought a spot from traders in Canada. The Canadian High Commission in Nigeria helped start the conversation with producers,” Reuters quoted Orji to have said.
Although, he did not comment on the prices, but spot prices on Tuesday are up more than 250 percent for deliveries to West Africa compared to last year, according to Argus Media, a commodities pricing agency.
The NSIA MD said there were ongoing discussions to see if a Russian delivery could still be possible.
Last year, Nigeria imported about 200,000 tonnes of potash, one of three key ingredients for fertiliser blending, according to the Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN).
Nigeria’s raw material imports meet just under 40 percent of its needs, the rest is sourced domestically, and local blended output was 1.5 million tonnes last year, nearly equal to domestic consumption.
“The Canadian potash will hopefully arrive just in the nick of time for the planting season, which starts as early as end-May in some parts,” Gideon Negedu, FEPSAN executive director, was quoted to have said.
He added that the association has a strategy to prioritise crops that need more potash.
