• Home
  • Agric
  • Sci & Tech
  • Health
  • Environment
  • Hausa News
  • More
    • Business/Banking & Finance
    • Politics/Elections
    • Entertainments & Sports
    • International
    • Investigation
    • Law & Human Rights
    • Africa
    • ACCOUNTABILITY/CORRUPTION
    • Hassan Gimba
    • Column
    • Prof. Jibrin Ibrahim
    • Prof. M.K. Othman
    • Defense/Security
    • Education
    • Energy/Electricity
    • Entertainment/Arts & Sports
    • Society and Lifestyle
    • Food & Agriculture
    • Health & Healthy Living
    • International News
    • Interviews
    • Investigation/Fact-Check
    • Judiciary/Legislature/Law & Human Rights
    • Oil & Gas/Mineral Resources
    • Press Freedom/Media/PR/Journalism
    • General News
    • Presidency
  • About Us
    • Contact Us
    • Board Of Advisory
    • Privacy Policy
    • Ethics Policy
    • Teamwork And Collaboration Policy
    • Fact-Checking Policy
    • Advertising
  • Media OutReach Newswire
    • Wire News
  • The Stories
Facebook Twitter Instagram
Trending
  • CAPPA highlights media’s role in reducing NCD
  • Chrisland university awards first-class degrees amid growing enrolment
  • Women farmers learn smart agriculture techniques in Abuja
  • African experts call for urgent action to reduce maternal deaths
  • Climate inaction costs lives as adaptation finance lags—UNEP
  • NPC strengthens data-driven leadership with new acting chairman
  • UNIBEN empowers students with car servicing skills
  • WHO warns climate inaction threatens global health
Facebook Twitter Instagram YouTube
AsheNewsAsheNews
  • Home
  • Agric

    Women farmers learn smart agriculture techniques in Abuja

    October 29, 2025

    N-HYPPADEC distributes farm inputs, relief materials to member states

    October 29, 2025

    LIFE-ND project boosts agribusiness skills for rural Delta communities

    October 29, 2025

    Nigeria’s livestock industry set for strategic transformation

    October 29, 2025

    Leventis foundation, NYSC to reward top young agripreneurs

    October 29, 2025
  • Sci & Tech

    NITDA calls for joint action to drive Nigeria’s digital growth

    October 29, 2025

    UNESCO launches biodiversity business training in Cross River

    October 29, 2025

    New horizons wins Africa’s best ICT training award

    October 29, 2025

    Digital transformation central to Enugu’s $30bn economy goal, says SSG

    October 29, 2025

    Kebbi gov highlights technology as key to teaching success

    October 29, 2025
  • Health

    CAPPA highlights media’s role in reducing NCD

    October 29, 2025

    African experts call for urgent action to reduce maternal deaths

    October 29, 2025

    NPC strengthens data-driven leadership with new acting chairman

    October 29, 2025

    WHO warns climate inaction threatens global health

    October 29, 2025

    Sightsavers mobilizes Kebbi leaders to fight trachoma

    October 29, 2025
  • Environment

    Climate inaction costs lives as adaptation finance lags—UNEP

    October 29, 2025

    Slow climate adaptation threatening lives and economies — UNEP report warns

    October 29, 2025

    New law strengthens Nigeria’s fight against wildlife trafficking

    October 29, 2025

    Nigeria’s environment at risk from poor waste management, EPHPAN warns

    October 28, 2025

    Nigeria launches green women platform to drive climate solutions

    October 28, 2025
  • Hausa News

    Anti-quackery task force seals 4 fake hospitals in Rivers

    August 29, 2025

    [BIDIYO] Yadda na lashe gasa ta duniya a fannin Ingilishi – Rukayya ‘yar shekara 17

    August 6, 2025

    A Saka Baki, A Sasanta Saɓani Tsakanin ‘Yanjarida Da Liman, Daga Muhammad Sajo

    May 21, 2025

    Dan majalisa ya raba kayan miliyoyi a Funtuwa da Dandume

    March 18, 2025

    [VIDIYO] Fassarar mafalki akan aikin Hajji

    January 6, 2025
  • More
    1. Business/Banking & Finance
    2. Politics/Elections
    3. Entertainments & Sports
    4. International
    5. Investigation
    6. Law & Human Rights
    7. Africa
    8. ACCOUNTABILITY/CORRUPTION
    9. Hassan Gimba
    10. Column
    11. Prof. Jibrin Ibrahim
    12. Prof. M.K. Othman
    13. Defense/Security
    14. Education
    15. Energy/Electricity
    16. Entertainment/Arts & Sports
    17. Society and Lifestyle
    18. Food & Agriculture
    19. Health & Healthy Living
    20. International News
    21. Interviews
    22. Investigation/Fact-Check
    23. Judiciary/Legislature/Law & Human Rights
    24. Oil & Gas/Mineral Resources
    25. Press Freedom/Media/PR/Journalism
    26. General News
    27. Presidency
    Featured
    Recent

    CAPPA highlights media’s role in reducing NCD

    October 29, 2025

    Chrisland university awards first-class degrees amid growing enrolment

    October 29, 2025

    Women farmers learn smart agriculture techniques in Abuja

    October 29, 2025
  • About Us
    1. Contact Us
    2. Board Of Advisory
    3. Privacy Policy
    4. Ethics Policy
    5. Teamwork And Collaboration Policy
    6. Fact-Checking Policy
    7. Advertising
    Featured
    Recent

    CAPPA highlights media’s role in reducing NCD

    October 29, 2025

    Chrisland university awards first-class degrees amid growing enrolment

    October 29, 2025

    Women farmers learn smart agriculture techniques in Abuja

    October 29, 2025
  • Media OutReach Newswire
    • Wire News
  • The Stories
AsheNewsAsheNews
Home»Food & Agriculture»AfDB signs $75m Indorama fertiliser production MoU
Food & Agriculture

AfDB signs $75m Indorama fertiliser production MoU

AfDB signs $75m Indorama fertiliser production MoU
Fatima Zahra MuhammadBy Fatima Zahra MuhammadMarch 29, 2024Updated:March 30, 2024No Comments3 Mins Read
Indorama fertilizer
Share
Facebook Twitter LinkedIn Pinterest Email

The African Development Bank (AfDB), has signed a 75 million dollar loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited.

The bank announced this in a statement issued on its website late Thursday.

According to the statement, the loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports.

The statement also said that the loan would help support food production and food security across regional and international markets while fostering job creation in Nigeria.

It said that the expansion would include the development of a third urea fertilizer production line and a new shipping terminal at Indorama’s facilities in Port Harcourt.

“The new production line is expected to have an annual capacity of 1.4 million metric tons of urea, one of the most widely used fertilizer worldwide.

“Indorama’s two operational urea fertilizer lines serve Nigeria’s domestic market.

“It supports the country’s agricultural sector, which accounts for a quarter of its Gross Domestic Product (GDP) and employs about a third of its labour force.

“The new production line and terminal, which will help meet growing global demand for fertilizer, is expected to create up to 8,000 direct and indirect jobs in Nigeria,” the statement said.

The statement also quoted the Acting Director of the Industrial and Trade Development Department, AfDB, Ousmane Fall, as commending the partnership.

Fall said the bank was proud of its continued partnership with Indorama, the IFC, and other lenders on this critical project.

He said the partnership aligned with the bank’s strategic priorities to Feed and industrialise Africa while generating significant development outcomes in Nigeria.

Meanwhile, the Group Director for Africa, Indorama Corporation, Manish Mundra said the establishment of the fertilizer plant underscored Indorama’s unwavering commitment to Nigeria’s industrial growth, economic diversification, and leveraging its strategic geographic location.

“This landmark financing represents a pivotal moment in Nigeria’s journey towards becoming a major player in the global fertilizer market.

“With this third line, Nigeria is prepared to significantly ramp up its export capacity, thereby, enhancing its position as a key exporter of fertilizer to Africa and the world.

“Furthermore, the establishment of this fertilizer plant will not only address critical issues such as broader food security but will also stimulate agricultural growth and create employment opportunities in Nigeria,” he said.

The AfDB’s loan follows a strategy to support investment in private sector development to promote the growth of the real sector.

The 75 million dollar loan is part of a 1.25 billion dollar facility arranged by IFC.

The financing package includes a 215.5 million dollar loan from IFC’s account, a 94.5 million dollar loan through the Managed Co-Lending Portfolio Programme (MCPP), and 940 million dollars in parallel loans mobilised from other development finance institutions and commercial banks.

Some of the banks include the AfDB, Bangkok Bank, British International Investment, Citibank, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), DZ Bank, Emerging Africa Infrastructure Fund (EAIF) and Rand Merchant Bank.

Others are Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Export-Import Bank of India (India Exim Bank) and Export-Import Bank of Korea (KEXIM).

The Standard Bank Group, Standard Chartered Bank, and the United States International Development Finance Corporation (DFC) are also part of the banks.

NAN

AfBD Fertilizer Indorama Eleme Fertilizer and Chemicals Limited. Indorama fertiliser MoU
Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Fatima Zahra Muhammad
  • Website

Related Posts

Women farmers learn smart agriculture techniques in Abuja

October 29, 2025

N-HYPPADEC distributes farm inputs, relief materials to member states

October 29, 2025

LIFE-ND project boosts agribusiness skills for rural Delta communities

October 29, 2025

Leave A Reply Cancel Reply

CAPPA highlights media’s role in reducing NCD

October 29, 2025

Chrisland university awards first-class degrees amid growing enrolment

October 29, 2025

Women farmers learn smart agriculture techniques in Abuja

October 29, 2025

African experts call for urgent action to reduce maternal deaths

October 29, 2025
About Us
About Us

ASHENEWS (AsheNewsDaily.com), published by PenPlus Online Media Publishers, is an independent online newspaper. We report development news, especially on Agriculture, Science, Health and Environment as they affect the under-reported rural and urban poor.

We also conduct investigations, especially in the areas of ASHE, as well as other general interests, including corruption, human rights, illicit financial flows, and politics.

Contact Info:
  • 1st floor, Dogon Daji House, No. 5, Maiduguri Road, Sokoto
  • +234(0)7031140009
  • ashenewsdaily@gmail.com
Facebook Twitter Instagram Pinterest
© 2025 All Rights Reserved. ASHENEWS Daily Designed & Managed By DeedsTech

Type above and press Enter to search. Press Esc to cancel.