After the Dangote’s African largest fertiliser plant was commissioned by President Buhari on the 22nd of Match, 2022. President Muhammadu Buhari alongside other dignitaries yesterday, predicted an agriculture and economic boom for the country following the coming on stream of the $2.5 billion Dangote Fertiliser Plant in Ibeju-Lekki, Lagos.
Kalu Aja on twitter has a different opinion. Aja has said that he will only celebrate, when he sees the price of fertiliser fall.
He went futher to say that if the price of fertiliser do not fall locally, to the extent that inflation and price of food stuff did not fall, then the “second largest fertiliser plant” in the world means noting.
Kalu said, food alone is 50% of CPI basket, meaning if food prices fall, inflation falls. If inflation falls, government deficits fall and even exchange rate improves.
Talking about crypto, Kalu said, If the CBN wanted fx, they will license crypto and tax it 20% flat payable in fx.
Dangote Fertilizer got the special incentives from the CBN because fertiliser is of strategic importance to Nigeria. The outcome should be cheaper fertiliser…at the minimum