By Ayomide Otitoju
The Dangote Group has strengthened its partnership with the Africa Finance Corporation (AFC) through the signing of a $600 million loan agreement to support the expansion of its fertiliser production capacity, a move aimed at boosting food security across Nigeria and Africa.
According to a statement by the company, the loan facility granted to GreenView Fertilizer Corporation, the holding company of Dangote Fertilizer, will partly finance the expansion of its urea fertiliser production capacity in Nigeria and support the development of a new fertiliser plant in Ethiopia.
The investment forms part of Dangote Group’s broader $7 billion fertiliser expansion programme, which is expected to increase the company’s production capacity in Nigeria from 3 million metric tonnes per annum (MTPA) to 9 MTPA. The initiative also includes the construction of a new 3 MTPA urea fertiliser plant in Ethiopia.
The programme is expected to significantly expand Africa’s fertiliser production capacity, enhance agricultural productivity, strengthen regional food security, and reduce the continent’s reliance on imported fertilisers.
The financing arrangement reflects AFC’s continued confidence in the vision of the Dangote Group to drive industrialisation and agricultural transformation through large-scale investments in critical infrastructure.
The facility will be deployed toward the expansion of the Dangote Fertilizer Plant in Ibeju-Lekki, Lagos State, one of the world’s largest granulated urea fertiliser complexes.
The company said the expansion would substantially increase production capacity, improve supply chain efficiency, and ensure a more reliable supply of high-quality fertilisers to farmers across Africa. It added that the project would help reduce import dependence, stabilise fertiliser prices, improve crop yields, and strengthen the continent’s food security framework.
Speaking on the development, Aliko Dangote said the expansion is projected to generate more than $4 billion annually in export earnings within the next three years.
He noted that the investment would make a significant contribution to Nigeria’s foreign exchange earnings and reaffirmed the group’s commitment to achieving its goal of growing into a $100 billion business by 2030 in collaboration with key African institutions, including AFC.
Commenting on the transaction, Samaila Zubairu described the deal as a demonstration of AFC’s capital recycling strategy.
According to him, following the successful repayment of AFC’s earlier investment in Dangote Industries Limited, the corporation has redeployed and doubled that capital into the group’s next phase of growth.
Zubairu said AFC’s support for the expansion of Dangote Fertilizer reflects its commitment to backing African industrial champions whose investments contribute to food security, reduce import dependence, and create long-term economic value across the continent.
The Dangote Fertilizer Plant currently plays a key role in meeting domestic fertiliser demand while exporting to international markets and generating foreign exchange earnings for Nigeria. With the planned expansion, the company aims to further strengthen its position in the global fertiliser industry.
