The Dangote Group has projected annual foreign exchange earnings of more than $4 billion from fertiliser exports within the next three years as it accelerates a major expansion programme aimed at strengthening Africa’s food security and boosting Nigeria’s non-oil export earnings.
The projection follows the signing of a $600 million loan facility by the Africa Finance Corporation (AFC) to support the expansion of Dangote Fertiliser’s production capacity in Nigeria and the development of a new fertiliser plant in Ethiopia.
The financing was extended to GreenView Fertilizer Corporation, the Dangote Fertiliser Holding Company, and forms part of the Group’s ambitious $7 billion fertiliser expansion programme.
Under the expansion plan, production capacity at the Dangote Fertiliser Plant in Ibeju-Lekki, Lagos, will increase from 3 million metric tonnes per annum (MTPA) to 9 million MTPA. The programme also includes the construction of a new 3 million MTPA urea plant in Ethiopia.
President of Dangote Group, Aliko Dangote, said the investment would significantly strengthen Nigeria’s foreign exchange position while reinforcing the country’s status as a major exporter of fertiliser.
“This investment positions us to deliver over $4 billion annually in fertiliser exports within the next three years. It represents a major contribution to Nigeria’s foreign exchange earnings and underscores our commitment to national economic growth,” Dangote said.
According to him, the expansion reflects the company’s commitment to industrialisation and economic development across Africa through strategic partnerships and long-term investments.
The expansion is expected to significantly increase fertiliser availability across the continent, helping to improve agricultural productivity, reduce import dependence, stabilise fertiliser prices and support food security initiatives.
The facility also highlights the growing partnership between Dangote Group and the Africa Finance Corporation, which has continued to support large-scale infrastructure and industrial projects across the continent.
President and Chief Executive Officer of AFC, Samaila Zubairu, described the transaction as a demonstration of the corporation’s commitment to supporting transformative African businesses.
“This transaction reflects AFC’s capital recycling model in action. Following the successful repayment of our earlier investment in Dangote Industries Limited, we are reinvesting and doubling that capital into Dangote Group’s next growth phase,” Zubairu said.
He noted that the expansion of Dangote Fertiliser would help reduce Africa’s reliance on imported fertilisers while creating long-term economic value and supporting regional food security.
Industry analysts believe the project could have far-reaching implications for Nigeria’s economy by increasing export revenues, improving foreign exchange inflows, creating jobs and strengthening the country’s position in the global fertiliser market.
The Dangote Fertiliser Plant, regarded as one of the world’s largest granulated urea fertiliser complexes, currently supplies the domestic market while exporting to several international destinations. The new expansion is expected to consolidate its leadership position globally and further enhance Africa’s agricultural resilience.
Beyond increasing fertiliser production, the investment is expected to improve supply chain efficiency, support farmers with greater access to quality fertilisers and contribute to sustainable agricultural development across the continent.
With the planned increase in production capacity and expansion into new markets, Dangote Fertiliser is positioning itself as a key driver of Africa’s agricultural transformation while generating substantial foreign exchange earnings for Nigeria.
