DANGOTE, AFC SIGN $600 MILLION DEAL TO EXPAND FERTILISER PRODUCTION CAPACITY

Dangote Group and the Africa Finance Corporation (AFC) have signed a $600 million agreement aimed at expanding fertiliser production capacity in Nigeria, in a move expected to strengthen agricultural output and boost food security.

The deal will support the expansion of fertiliser facilities under the Dangote Fertiliser complex, increasing production capacity and improving supply to both local and international markets.

According to stakeholders, the partnership is designed to enhance agricultural productivity by ensuring farmers have better access to affordable and high-quality fertiliser inputs.

Officials said the investment aligns with broader efforts to reduce Nigeria’s reliance on fertiliser imports while positioning the country as a key exporter in the global agricultural value chain.

The AFC described the project as a strategic investment that supports industrial growth, job creation, and economic diversification across the region.

Industry analysts noted that increased fertiliser production could help reduce food production costs and improve crop yields, contributing to long-term food security.

The agreement is also expected to attract additional private sector investment into Nigeria’s agro-industrial sector, further strengthening its role in the continent’s agricultural development.

Both parties reaffirmed their commitment to driving sustainable economic growth through large-scale infrastructure and industrial investments.