Investor Presentaiton

● However, the private sector was neither experienced nor developed enough to respond to the government's sudden exit from the sector, and fertilizer use fell from a peak of 1.2 million metric tons in 1992 to 56,700 metric tons (mt) in 1997 (Banful and Olayide 2010, IFDC 2010). o To address this decline, the federal government resumed fertilizer subsidy at 25 percent of cost in 1999 under the Federal Market Stabilization Program (FMSP), with further subsidy added by many state governments. o This led to varied fertilizer prices across Nigerian states, with a wide range in the extent of subsidies.

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