Dangote’s $7bn Fertiliser Expansion Gets AFC Backing to Build Global Production Giant

Africa’s richest man, Aliko Dangote, has secured strong financial backing from the Africa Finance Corporation (AFC) for a bold $7bn fertiliser expansion project aimed at positioning his conglomerate as the world’s largest urea producer.

Under the agreement signed in Lagos, AFC committed $600m to Greenview Fertiliser Corp., Dangote’s fertiliser holding company. The funding forms part of a wider expansion strategy designed to triple Nigeria’s urea production capacity while also establishing a major new fertiliser plant in Ethiopia.

The project will significantly scale output from 3 million metric tonnes per annum to 9 million in Nigeria alone by 2030. When combined with a planned 3 million metric tonnes facility in Gode, Ethiopia, the group’s total production capacity is expected to reach 12 million metric tonnes annually, making it a dominant global player in the fertiliser market.

Dangote said the expansion is not only a commercial ambition but also a strategic push to strengthen Africa’s food security, reduce dependency on imports, and boost agricultural productivity across the continent. He also linked the project to his broader goal of growing his business empire into a $100bn group by 2030.

For AFC, the investment reflects a long-term development focus on strengthening Africa’s industrial base and addressing the continent’s food supply challenges. The institution noted that despite having vast arable land and natural gas resources, Africa still lags behind major economies in fertiliser consumption and agricultural productivity, a gap the project aims to close.

source: theafricareport