Platts to launch FOB Nigeria granular urea assessment June 1

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

The decision updates a proposal subscriber note, published April 20 and available here.

With the production of granular urea in Nigeria set to increase significantly in the coming years, Platts will 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 assessment will 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 daily FOB Nigeria granular urea assessment will appear in the Platts Fertecon Daily report, the weekly Nitrogen Market report, and will also be available via Energy Core.

Please send any feedback, questions and comments to fertilizer@spglobal.com and pricegroup@spglobal.com.

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.