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NSIA, Uche Orji Unlike in advanced nations where some level of inflation is tolerable to stimulate economic activities, Nigeria’s inflationary trend is detrimental to its growth due to structural deficiency, logistic problems, and insecurity among others. Many of the factors that have fuelled Nigeria’s rising inflation are not showing any signs of receding in the short term. Combined with a revenue problem, the need for government to boost local food production spurred the implementation of the Presidential Fertiliser Initiative (PFI). FEMI ADEKOYA writes on progress made thus far. To co...

By Dike Onwuamaeze Over $350 million has been saved from the erstwhile payments on subsidy and import substitution through the implementation of the Presidential Fertiliser Initiative (PFI), the Nigerian Sovereign Investment Authority (NSIA) has said. The Managing Director and Chief Executive Officer of NSIA, Mr. Uche Orji, in a statement yesterday said with the support of President Muhammadu Buhari, the programme had accomplished its principal objectives. He said: “Having fulfilled the establishment, stabilisation and market discipline phase of PFI, the primary objective of which was to re...