By Babatunji Wusu| The Dangote Group has secured a $600 million financing facility from the Africa Finance Corporation (AFC) to accelerate the expansion of its fertiliser production capacity across Africa, a move expected to improve food security and boost agricultural productivity on the continent.
The funding, arranged through a partnership with AFC, will be channelled via GreenView Fertiliser Corporation, the holding company for Dangote Fertiliser. The facility will help finance the expansion of urea production in Nigeria and support the construction of a new fertiliser plant in Ethiopia.
The investment is part of the group’s wider fertiliser expansion programme, valued at $7 billion. Under the plan, production capacity at the Dangote Fertiliser Plant in Ibeju-Lekki, Lagos, will increase from three million metric tonnes per annum (MTPA) to nine million MTPA. The project also includes the development of a new three million MTPA urea fertiliser facility in Ethiopia.
The expanded capacity is expected to increase fertiliser availability across Africa, reduce reliance on imports and improve access to affordable agricultural inputs for farmers. Industry stakeholders believe the initiative will strengthen regional food systems and support agricultural growth in several countries.
The Dangote Fertiliser Plant, recognised as one of the world’s largest granulated urea production facilities, currently serves both domestic and international markets. The new investment is expected to expand its export reach and contribute significantly to Nigeria’s foreign exchange earnings.
Speaking on the development, Aliko Dangote, President of the Dangote Group, said the fertiliser expansion programme would generate substantial economic benefits and increase export revenue.
“This funding is for a company that, within the next three years, will export over $4 billion worth of urea fertiliser,” he said. “It is a big contribution to the country’s foreign exchange earnings. You can continue to count on us as we grow towards our $100 billion group vision by 2030, alongside partners like AFC.”
President and Chief Executive Officer of AFC, Samaila Zubairu, said the deal reflects the corporation’s commitment to supporting transformative African industrial projects. He noted that the fertiliser expansion programme would strengthen food security, reduce import dependence and create lasting economic value across the continent.
