Aliko Dangote Vows Africa Will End Fertilizer Imports Within 40 Months
Aliko Dangote Vows Africa Will End Fertilizer Imports Within 40 Months
The Nigerian billionaire plans to make Africa self-sufficient in fertilizer production by expanding his $2.5 billion plant near Lagos.
Speaking at the Afreximbank meeting in Abuja, Dangote stated his goal is to exceed Qatar as the world's top urea producer.
Currently, Africa imports over 6 million metric tons of fertilizer annually. Dangote's existing complex already produces 3 million tons yearly (37% exported to the US). Achieving self-sufficiency requires doubling this output.
The move aims to save vital foreign exchange amid currency weakness across the continent. Dangote has a history of large-scale projects, such as his record-breaking Dangote Petroleum Refinery.
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