President of the Dangote Group, Aliko Dangote, has announced a bold plan to make Africa self-sufficient in fertilizer supply within 40 months.
This ambitious goal is part of the group’s strategy to boost Africa’s agricultural productivity and reduce reliance on external sources.
Speaking at the Annual Afreximbank Meeting in Abuja, Dangote confidently declared, “In the next 40 months, Africa will not import fertilizer from anywhere.”
Dangote’s Vision for Africa’s Fertilizer Industry
The Dangote Group’s fertilizer plant, located in the Lekki Free Trade Zone in Lagos, Nigeria, is a $2.5 billion investment that aims to produce 3 million metric tons of urea fertilizer annually.
This massive project is expected to not only meet Africa’s fertilizer needs but also generate significant revenue through exports.
Dangote revealed that the company is targeting a daily revenue of $7 million from fertilizer sales in the next two years.
Impact on Africa’s Economy and Food Security
Achieving self-sufficiency in fertilizer production would have a significant impact on Africa’s economy and food security.
It would reduce the continent’s reliance on imported fertilizers, create jobs, and increase agricultural productivity.
According to Dangote, the fertilizer plant’s production capacity will help bridge the gap in fertilizer demand, estimated to be between 5 to 7 million metric tons per annum in Nigeria alone.
Africa First policy
Dangote also urged African leaders and stakeholders to adopt a bold “Africa First” economic policy—one that prioritizes local investment, industrialization, and sustainable development across the continent.
Just as Donald Trump’s policy focused on advancing domestic interests over global commitments, Dangote emphasized that Africa, too, should develop strategies that put the continent’s economic prosperity at the forefront.
“When we encourage domestic investors and they succeed, it will motivate foreign investors to come to Africa,” he said, arguing for a shift in mindset and policy direction.
What You Should Know
- The Dangote Group’s growth plans extend beyond fertilizer production.
- The company is also investing heavily in other sectors, including cement, sugar, and petroleum refining.
- With a projected revenue of $30 billion by 2026, Dangote Group is poised to become a major player in Africa’s economic landscape.
