Platts launches a daily FOB Nigeria granular urea assessment, June 1

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

Platts initially proposed the launch on April 20 in a subscriber note available here, followed by a decision on May 5 in a subscriber note available here.

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

The specifications of the daily assessment, along with its symbol code, are detailed below:

Granular Urea FOB Nigeria

• Symbol code: FGUBN00
• 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 considers 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 appears in the Platts Fertecon Daily report, the weekly Nitrogen Market report, and is also available via Energy Core.

Platts has also launched FOB Nigeria Weekly Average ( FGUBN04 ) and FOB Nigeria Monthly Average ( FGUBN03 ), which will be available via Platts Energy Core.

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

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