Platts proposes launch of FOB Nigeria granular urea assessment June 1

Platts, part of S&P Global Energy, is proposing to launch a daily FOB Nigeria granular urea assessment, effective June 1, 2026.

With the production of granular urea in Nigeria set to increase significantly in the coming years, Platts is proposing to launch a daily assessment to improve pricing transparency in the country's granular urea market.

The specifications of the proposed daily assessment are detailed below:

Granular Urea FOB Nigeria

Quality: 46% N, granular urea in bulk

Quantity: 30,000 mt

Basis and location: FOB Lekki

Timing: Loading 2-4 weeks forward

Frequency: Daily

Unit of assessment: $/mt

Timestamp: 16:30 London close, published according to the London publishing calendar

The proposed assessment would consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process, including netbacks.

The proposed daily FOB Nigeria granular urea assessment would appear in the Platts Fertecon Daily report, the Nitrogen Market report, and would also be available via Energy Core.

Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com by May 1, 2026.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.