(Ecofin Agency) - Vice President, Yemi Osinbajo (photo) will later today, Tuesday, August 29, inaugurate a 60,000 metric tonnes fertilizer plant located in Edo State, Southern Nigeria.

The plant, which had remained dormant since commissioned on March 22, 2003, was rehabilitated by WACOT Limited in collaboration with Edo state government, under the presidential fertilizer initiative. The initiative aims to achieve food self-sufficiency and economic diversification through agriculture.

The renovation of the Edo State Fertilizer plant will improve the state’s socio-economic status but also create an avenue for the youths to leverage on the expertise of major players in the Agriculture sector, according to the state government.

Managed by WACOT Limited, the plant said to have a capacity of 60,000 metric tonnes, will also profit from the unprecedented bilateral cooperation between the Nigerian Government and Morocco, which has already brought about the revival of 11 fertilizer blending plants across the country.

A spokesman of WACOT, Sadiq Kassim, in his remark on Monday said the plant would create about 500 direct jobs for people in the area. “The plant will provide immediate 500 direct jobs to indigenes of Edo State as soon as the Vice President commissions it tomorrow. We are managing the plant under a long term lease with Edo government.”

Kassim, however, did not disclose the company’s financial involvement in the project. “All I can say is that we plan an extension of the project in few years to scale up the capacity and turnout which will be in billions of naira.”

Anita Fatunji