Dangote Group has landed a $600 million facility from the Africa Finance Corporation (AFC) to boost its fertiliser production capacity, marking a key step toward strengthening food security in Nigeria and across the African continent.
The financing, which strengthens the long-standing partnership with the Africa Finance Corporation (AFC), is being provided to GreenView Fertilizer Corporation (Greenview) and the Dangote Fertiliser Holding Company to help fund the expansion of urea production in Nigeria and the construction of a new fertiliser plant in Ethiopia.
This investment is a major part of the Dangote Group’s $7 billion fertiliser expansion plan. It aims to boost Nigeria’s production capacity from 3 million to 9 million metric tonnes per year and support the creation of a new 3 million metric tonne urea plant in Ethiopia. Once finished, the project will greatly increase Africa’s fertiliser supply, improve food security, raise agricultural productivity, and cut reliance on imports.
The facility highlights AFC’s solid confidence in the Dangote Group’s vision to boost industrial growth and transform agriculture through major infrastructure projects. The funds will mainly go toward expanding the Dangote Fertiliser Plant in Ibeju-Lekki, Lagos, one of the world’s largest granulated urea fertiliser complexes.
The expansion is set to significantly boost production, streamline supply chains, and keep a steady flow of top-quality fertilisers available to farmers across the continent. It’s also expected to help stabilise prices, cut down on import reliance, and improve crop yields, ultimately reinforcing Africa’s food security.
Commenting on the development, Dangote Group President Aliko Dangote stated that the expansion would bring substantial foreign exchange earnings to 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.”
Related Posts
Commenting on the transaction, Africa Finance Corporation President and CEO Samaila Zubairu emphasized the deal’s strategic significance., noting that “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.
Comments are closed.