Russia-Ukraine war fuels demand for Nigeria’s urea

Russia-Ukraine war has driven demand for Nigeria’s urea, pushing up export of the product by 169.7 percent in the nine months of 2024. Data from the National Bureau of Statistics (NBS) show that Nigeria’s urea export stood at N708.9 billion between January and September 2024, up from N262.8 billion reported in the same period of 2023. Matthew Ilegbedion, an agricultural finance analyst, attributed the export growth to the Russia-Ukraine war which created temporary scarcity and an opportunity for Nigeria’s urea/fertiliser to sell. Read