The Bauchi Fertiliser Blinding Company, (BAFCO), requires three billion naira working capital to enable it produce at full capacity, the Managing Director of the company, Usman Lame, said in Bauchi on Wednesday.
Lame said the fund was needed for the purchase of raw materials, payment of staff salaries and maintenance of facilities.
According to him, the company is currently producing 50,000 tonnes of assorted fertilisers per annum as against the installed capacity of 100,000 tonnes per annum due to lack of working capital.
Lame gave the current workforce of the company as 33 permanent staff, 10 semi-permanent staff and between 50 to 100 casual workers during production period.
He said that the company had only one production line as against a proposed two production lines that could meet the demand of its teeming customers in all the states within the northern region.
The managing director described the plant as the biggest and modest in the West African sub-region, saying that “our product is the best in the country’’.
He said that “all what we are currently doing now is collect raw materials from the state government and process it without proceeds except the salary bill of N1.7 million we get from the government.”
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