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Morocco to Open Fertilizer Factory in Nigeria
Tuesday, 19 July 2016
The Minister Delegate of Foreign Affairs Nasser Bourita met with the President of Nigeria Muhammadu Buhari on Friday to discuss the opening of an OCP fertilizer factory in Nigeria, according to Media24.
The Nigerian president approved the Moroccan proposal, and said that it would “improve food security and create jobs for the unemployed youth.”
OCP is a Moroccan company that produces fertilizers. They recently released a line of products that focus on high performance and agricultural sustainability.
Nigeria’s economy has been struggling since the price of oil fell. The oil industry has been declining consistently since 2014.
Based on market estimates by the Foreign Exchange Capital Market (FXCM), crude oil is priced at $45.64 per barrel. In 2014, it was about $105. Countries with economies that are dependent on oil, such as Nigeria, have experienced difficulty replacing lost jobs and revitalizing their economies.
Officials hope that the fertilizer factory will create jobs for Nigerians, and hopefully relaunch agriculture in Africa’s most populous country.
Nigeria is among the African countries who lend their diplomatic and political support to the Polisario Front, a breakaway movement that seeks to establish an independent state in the Western Sahara, which is under Morocco’s sovereignty. By investing in the struggling Nigerian economy, Morocco seeks to limit and eventually put an end to Nigeria’s support for the Polisario.