The privatisation agency invited bids for 51% stakes in the Federal Superphosphate Fertiliser Company (FSFC) and the National Fertiliser Company of Nigeria (Nafcon).

Offers in the region of $15,000 would be welcomed, the agency said.

In addition, any bidder would have to present evidence of technical abilities, managerial skills and sufficient finance.

Large capacity

Nafcon is the largest notrogenous fertiliser maker in west Africa.

The firm, which was established 15 years ago, produces between one and 1.5 tonnes of ammonia, urea and bulk blending a day.

The complex is being rehabilitated.

The FSFC was established almost 30 years ago and produces 100,000 tonnes of superphosphate a year.

Nigeria's government owns majority stakes in telecoms and electricity companies as well as in the mint, the Nigerian National Petroleum Corporation and Nigeria Airways.

Controlling stakes are due to be sold, but so far the privatisation process has proved to be slow.