The African Development Bank has approved $100 million loan to a Nigerian firm, Indorama Eleme Fertilizer & Chemicals Limited to support the production of fertilizer.
Indorama Eleme Fertilizer & Chemicals Limited plans to double its fertilizer production from 1.4 million tons of urea to 2.8 million tons per annum.
The Bank says the loan will be used to address problem of inadequate fertilizer which is considered as hindrance to agricultural growth and development in the continent.
