The Dangote Group has reinforced its strategic partnership with the Africa Finance Corporation through the signing of a $600 million loan agreement aimed at expanding fertiliser production capacity and enhancing food security across Nigeria and the African continent.
According to a statement issued by the company on Monday, the financing facility granted to GreenView Fertiliser Corporation, the holding company for Dangote Fertiliser, will partly fund the expansion of urea fertiliser production in Nigeria as well as the development of a new fertiliser plant in Ethiopia.
The investment is part of the Dangote Group’s broader $7 billion fertiliser expansion programme, which is projected to raise Dangote Fertiliser’s production capacity in Nigeria from three million metric tonnes per annum to nine million metric tonnes per annum. The initiative will also support the construction of a new three million metric tonnes per annum urea fertiliser plant in Ethiopia.
The expansion programme is expected to significantly boost Africa’s fertiliser production capacity, enhance regional food security, improve agricultural productivity, and reduce the continent’s reliance on imported fertiliser.
“The financing underscores AFC’s continued confidence in Dangote Group’s vision to drive industrial growth and agricultural transformation through large-scale investments in critical infrastructure.
“The facility will be deployed towards expanding the Dangote Fertiliser Plant, one of the largest granulated urea fertiliser complexes in the world, located in Ibeju-Lekki, Lagos State,” the company said.
The expansion is expected to significantly increase production capacity, improve supply chain efficiency, and ensure a consistent supply of high-quality fertiliser to farmers across Africa.
The statement further noted that the expansion is expected to reduce reliance on fertiliser imports, stabilise prices, and boost agricultural yields, thereby strengthening Africa’s food security framework.
Speaking on the development, Dangote Group President Aliko Dangote said the project is projected to generate over $4 billion annually in export earnings within the next three years.
“By the next three years, we’ll be able to have an export of over $4bn worth of urea fertiliser, and I think it is a big contribution to the foreign exchange income of the country… You can continue to count on us. When we say that we want to grow our group to $100bn by 2030, it doesn’t mean that we want to grow alone; we want to grow together, especially with the African Finance Corporation, among other notable institutions in Africa,” he said.
In his remark transaction, Samaila Zubairu, President & CEO of Africa Finance Corporation, said, “This transaction demonstrates AFC’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 Fertiliser, 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.”
