Dangote targets $4bn annual forex earnings from fertiliser exports

Dangote Group is targeting to raise over $4 billion annually from fertiliser exports within the next three years, thanks to a major expansion programme.

The company has secured a $600 million loan facility from the Africa Finance Corporation (AFC) to support the expansion of its fertiliser production capacity in Nigeria and the development of a new plant in Ethiopia.

The expansion plan involves increasing urea fertiliser production capacity in Nigeria from 3 million metric tonnes per annum (MTPA) to 9 MTPA, while adding a new 3 MTPA urea plant in Ethiopia.

This move is expected to strengthen Nigeria and Africa’s food security, support agricultural productivity, and reduce dependence on imported fertilisers.

Aliko Dangote, president of the Dangote Group, stated that the expansion would generate substantial foreign exchange earnings for Nigeria.

“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.”

“Our growth vision is not in isolation; we are building alongside strategic African partners like AFC and other institutions committed to the continent’s progress.”

The project is part of Dangote Group’s broader $7 billion fertiliser expansion programme, aimed at making Africa self-sufficient in fertiliser production and overtaking global competitors in output.

The company has already begun exporting fertilisers to markets in Africa, Europe, and the Americas, and expects to generate significant foreign exchange earnings for Nigeria.

The AFC financing, extended to GreenView Fertiliser Corporation and the Dangote Fertiliser Holding Company, will partly fund the expansion of urea production capacity in Nigeria, as well as the development of a new fertiliser plant in Ethiopia.

The facility underscores AFC’s strong confidence in Dangote Group’s vision to drive industrial growth and agricultural transformation through large-scale infrastructure investments.

The funds will primarily support the ongoing expansion of the Dangote Fertiliser Plant at Ibeju-Lekki, Lagos, one of the largest granulated urea fertiliser complexes in the world.

The expansion is expected to substantially scale up production, improve supply chain efficiency, and ensure consistent availability of high-quality fertilisers to farmers across the continent.

It will also contribute to price stability, reduce import dependency, and enhance crop yields, strengthening Africa’s overall food security framework.

Also commenting on the development, Samaila Zubairu, president and CEO of Africa Finance Corporation, highlighted the strategic importance of the deal.

“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.”

“By supporting the expansion of Dangote Fertilizer, AFC is backing a proven African industrial leader whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent.”

This development builds on AFC’s strong track record of successful investments and exits across Africa, including projects in renewable energy, port infrastructure, digital connectivity, and industrial platforms.

The Dangote Fertiliser Plant currently plays a critical role in meeting domestic demand while exporting to international markets, thereby generating valuable foreign exchange for Nigeria.

With this new phase of expansion, the company is poised to consolidate its leadership position in the global fertiliser market while advancing Africa’s agricultural and economic resilience.