Abayomi Susan
…Dangote Projects Over $4bn in Annual Foreign Exchange Earnings for Nigeria from Fertiliser Exports
The Dangote Group has deepened its strategic partnership with the Africa Finance Corporation (AFC) following the signing of a $600 million loan agreement to support the expansion of its fertiliser production capacity, a move expected to enhance food security across Nigeria and the wider African continent.
The financing facility, extended to GreenView Fertilizer Corporation (GreenView), the holding company of Dangote Fertilizer, will partly fund the expansion of urea fertiliser production in Nigeria and support the development of a new fertiliser plant in Ethiopia.
The investment is part of Dangote Group’s broader $7 billion fertiliser expansion programme, designed to increase the company’s production capacity in Nigeria from 3 million metric tonnes per annum (MTPA) to 9 MTPA, while also facilitating the establishment of a 3 MTPA urea fertiliser plant in Ethiopia.
Upon completion, the initiative is expected to significantly boost Africa’s fertiliser production capacity, strengthen regional food security, improve agricultural productivity, and reduce the continent’s reliance on imported fertiliser.
The latest financing underscores AFC’s continued confidence in Dangote Group’s industrialisation agenda and its commitment to driving agricultural transformation through large-scale investments in critical infrastructure. The funds will support the expansion of the Dangote Fertilizer Plant in Ibeju-Lekki, Lagos, one of the world’s largest granulated urea fertiliser complexes.
The expansion is expected to substantially increase output, improve supply chain efficiency, and ensure a more reliable supply of high-quality fertiliser to farmers across Africa. It is also anticipated to reduce import dependence, stabilise fertiliser prices, and enhance crop yields, thereby strengthening the continent’s food security framework.
Speaking on the development, President of Dangote Group, Aliko Dangote, said the expansion is projected to generate more than $4 billion annually in export earnings within the next three years.
“What this investment will enable us to do is achieve exports of over $4 billion worth of urea fertiliser annually within the next three years. This represents a significant contribution to Nigeria’s foreign exchange earnings. You can continue to count on us. Our vision of growing the Group to $100 billion by 2030 is not one we intend to achieve alone; we aim to grow alongside strategic partners such as AFC and other leading African institutions,” Dangote stated.
Commenting on the transaction, Samaila Zubairu, President and Chief Executive Officer of AFC, described the deal as a demonstration of the Corporation’s capital recycling model in action.
“Following the successful repayment of our earlier investment in Dangote Industries Limited, we are redeploying and doubling that capital into Dangote Group’s next phase of growth. By supporting the expansion of Dangote Fertilizer, AFC is backing a proven African industrial champion whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent,” he said.
The Dangote Fertilizer Plant currently plays a critical role in meeting domestic demand while exporting to international markets, generating valuable foreign exchange earnings for Nigeria. With the planned expansion, the company aims to further consolidate its position as a leading player in the global fertiliser industry.
