Investment: Zambia seeks Dangote’s support in developing fertilizer industry

*Hon. Chipoka Mulenga, Zambian Minister for Commerce, Trade and Industry, commends, says investment in fertilizer production will not only help Zambia to be self-sufficient in food production but grow its  economy, and that of the neighbouring countries

*Dangote Fertilizer will have a huge value on Nigeria as it has the potential to transform the entire African continent –Vishwajit Sinha, CEO, Dangote Fertilizer Limited

Gbenga Kayode | ConsumerConnect

In the country’s drive to develop the agricultural sector of the economy, Hon. Chipoka Mulenga, Zambian Minister for Commerce, Trade and Industry,  has sought the assistance of Alhaji Aliko Dangote, President/Chief Executive of Dangote Group.

ConsumerConnect reports Chipoka Mulenga, who led a delegation from Zambia on tour of the 3.00 million metric tonnes and $2.5billion Dangote Fertilizer plant located at the Lekki Free Trade Zone, in Lagos State of Nigeria, at the weekend, called for a collaboration between Dangote Group and the Zambian Government on the establishment of a fertilizer plant in the Southern African country.

L-R: Hon. Chipoka Mulenga, Zambian Minister for Commerce and Trade; Adeola Basorun of Engineering Section at Dangote Fertilizer Limited; and Vishwajit Sinha, Chief Executive Officer of Dangote Fertilizer Limited, During the Zambian Minister’s Visit to Dangote Fertilizer Limited Plant at Lekki Free Trade Zone, in Lagos

Dangote Group, in a statement issued Sunday, August 21, 2022, in Lagos, said Mulenga expressed his belief that any investment in fertilizer production would not only help Zambia to be self-sufficient in food production, it would also help to grow the Zambian economy, and that of the neighbouring countries.

The Zambian Minister for Commerce, Trade and Industry also noted that the Zambian Government has created an enabling environment for local and foreign Investments through great incentives to attract investment in all sectors of the economy.

Mulenga further stated: “The Zambian Government in the last budget made some pronouncements, which focus on value addition, industrialisation, skill enhancement and development.

“We have a huge youthful population who are ready to work if given the opportunity to be productive.”

Zambia as Africa’s new investment destination

The Minister as well described Zambia as Africa’s new investment destination because of its stable political system, stable macroeconomic environment and investment protection guarantees.

Zambia, he said, is strong in Agriculture, and is even seeking to become stronger through having its own fertilizer plant. “Rather than continue to import fertilizer from anywhere, we want Aliko Dangote to come and establish a plant in Zambia,” stated he.

According to him, the country’s fertilizer consumption has increased tremendously in the last few years, and has continued to increase.

Mulenga also stated: “I am happy that we no longer have to go outside of Africa to seek investors.

“Dangote has been able to change the narratives through his investment in cement production across Africa.”

The Zambian Minister said: “We now have Africans investing in the Africa continent.

“Dangote has already established the biggest cement plant in Zambia.”

He noted that “Dangote Cement Zambia has a remarkable portfolio, and is bringing a positive change to the cement industry, not only in Zambia, but also to other neigbouring countries.”

Minister applauds Dangote for massive investment in fertilizer production

Mulenga commended Aliko Dangote for investing massively in fertilizer production in Nigeria.

“This could only happen because the company puts the right people, right leadership, right technical skills, and the right management in place to have such a remarkable result.

“This Fertilizer Plant is not only serving the needs of Nigeria, but also attracting foreign exchange into the continent.

“This is a good demonstration that we can have this kind of investment in any part of Africa, which can grow and be beneficial to other countries.”

The Minister, therefore, enjoined Nigerians to guard Dangote investments and other local investments in the West African country.

“Let all Nigerians support this investment to grow from strength to strength.

“This is amazing and we will like to have a similar investment in Zambia,” Mulenga advised.

$2.5bn Fertilizer complex will make Nigeria self-sufficient −Vishwajit Sinha, CEO, Dangote Fertilizer Limited

Speaking after the tour of the fertilizer plant in Lagos, Mr. Vishwajit Sinha, Chief Executive Officer (CEO) of Dangote Fertilizer Limited, said demand for Urea fertilizer in the Nigerian market and beyond remains robust, and this is expected to continue to grow.

Sinha said the $2.5 billion fertilizer complex would make Nigeria self-sufficient in fertilizer production with excess capacity exported to other African countries and the rest of the world.

He stated: “The key focus of Dangote Fertilizer has always been to cater to the growing fertilizer demand of the domestic market in Nigeria, and also to work towards bringing a green revolution in the country so as to contribute towards food security for Nigeria.

“The surplus production after supplying the domestic market is exported.”

Sinha also stressed that Dangote Fertilizer is positioned to take advantage of the Federal Government’s policy, which focuses on agriculture as one of the keys to unlock the diversification of the Nigerian economy.

“As population is increasing, food consumption is changing. “Many countries’ economic progress is linked to agricultural development, which is the best form of inclusive development,” said Dangote Fertilizer CEO.

He further noted: “For all the countries that I have been to, I can see the potential of agriculture in the entire value chain from the farm to the kitchen in Nigeria.

“Dangote Fertilizer has the potential to transform the entire African region. Definitely, it will have a huge value on the country.”

Sinha, therefore, described Dangote Fertilizer plant as a company, which will not only increase food-sufficiency in Nigeria, but also drastically reduce the level of unemployment and youth restiveness in the country through the generation of direct and indirect employment.

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