Dangote Rides Tariff Wave, Doubles Down on Urea Exports to U.S.

Aliko Dangote, President of Dangote Industries Limited, has signaled confidence in the face of new U.S. tariffs, announcing plans to double urea exports to America despite a 14% levy imposed by the Trump administration. Speaking at an investment summit in Lagos, Dangote said his firm was “comfortable” with the tariff impact, especially since Algeria—Nigeria’s main competitor in the urea market—was hit with a steeper 30% duty. With 37% of its fertilizer already going to the U.S., Dangote Fertiliser sees this as a strategic edge.

The Trump administration’s latest tariff wave, introduced under a policy shift toward “fair trade,” includes a 10% baseline duty on all imports and higher country-specific rates, targeting nations like Nigeria for maintaining high tariffs on American goods. While controversial, these measures are aimed at reshaping global trade and bolstering domestic industries. Nigeria’s 14% tariff stems from its 27% duty on U.S. imports, according to U.S. trade officials.

Despite the challenge, Dangote is optimistic. He expects revenues from his group to grow from a projected $25 billion in 2025 to over $30 billion, boosted by the performance of both the fertilizer and cement arms of the conglomerate. Dangote Fertiliser, which commenced commercial production in 2022, is already reshaping Nigeria’s export landscape by leveraging gaps left by competitors.

Elsewhere, financial leaders like Roosevelt Ogbonna, Managing Director of Access Bank Plc, view the trade upheaval as a wake-up call for Africa. Ogbonna described the Trump tariffs as a “blessing in disguise,” urging African nations to seize the opportunity to strengthen intra-African trade and deepen the African Continental Free Trade Agreement (AfCFTA). He called for greater investment in African banks and collaboration across borders to build resilient, self-reliant economies.

Source: The sun