New investments in fertilizer projects in Nigeria are adding substantial production capacity to the West Africa region. However, market analysis and consulting firm CRU forecasts growth in fertilizer consumption will lag far behind supply growth over the next five years, and expects a significant share of new supply to be exported out of the region.
A huge amount of potential demand is waiting to be unlocked in West Africa, but a number of obstacles need to be overcome before local farmers are in a position to increase fertilizer application rates. In 2017, there are signs that real steps are afoot to diminish some of these obstacles with possible upside potential for regional fertilizer consumption growth, according to CRU.
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