*The Dangote Group says the loan facility by Africa Finance Corporation will support the expansion of its fertiliser production capacity, an important milestone in advancing food security across Nigeria and the African continent
Emmanuel Akosile | ConsumerConnect
The Dangote Group has reinforced its long-standing partnership with the Africa Finance Corporation (AFC) through the signing of a $600 million loan facility.
The business conglomerate said the facility would support the expansion of its fertiliser production capacity, an important milestone in advancing food security across Nigeria and the African continent.
The Group also stated that the financing, extended to GreenView Fertiliser Corporation (Greenview), the Dangote Fertiliser Holding Company, would partly fund the expansion of urea production capacity in Nigeria as well as the development of a new fertiliser plant in Ethiopia.
This investment forms a key component of the Dangote Group’s broader $7 billion fertiliser expansion programme. The initiative is expected to increase production capacity in Nigeria from 3 million metric tonnes per annum (MTPA) to 9 MTPA, while also supporting the establishment of a new 3 MTPA urea plant in Ethiopia.
The company further said upon completion, the expansion programme would significantly boost Africa’s fertiliser output, strengthen regional food security, enhance agricultural productivity, and reduce dependence on imports.
It equally affirmed the facility has underscored AFC’s strong confidence in Dangote Group’s vision to drive industrial growth and agricultural transformation through large-scale infrastructure investments.
The funds will primarily support the ongoing expansion of the Dangote Fertiliser Plant at Ibeju-Lekki, Lagos, one of the largest granulated urea fertiliser complexes in the world.
The expansion is expected to substantially scale up production, improve supply chain efficiency, and ensure consistent availability of high-quality fertilisers to farmers across the continent.
It will also contribute to price stability, reduce import dependency, and enhance crop yields, strengthening Africa’s overall food security framework.
Speaking on the development, Aliko Dangote, President/ Chief Executive of Dangote Group, said the expansion would generate significant foreign exchange earnings for Nigeria.
He stated: “This investment positions us to deliver over $4 billion annually in fertiliser exports within the next three years.
“It represents a major contribution to Nigeria’s foreign exchange earnings and underscores our commitment to national economic growth.
“Our growth vision is not in isolation; we are building alongside strategic African partners like AFC and other institutions committed to the continent’s progress.”
In his remarks on the transaction, Samaila Zubairu, President and CEO of Africa Finance Corporation, highlighted the strategic importance of the deal.
Zubairu said: “This transaction reflects AFC’s capital recycling model in action.
“Following the successful repayment of our earlier investment in Dangote Industries Limited, we are reinvesting and doubling that capital into Dangote Group’s next growth phase.”
The AFC Chief stated: “By supporting the expansion of Dangote Fertilizer, AFC is backing a proven African industrial leader whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent.”
Dangote Group said the development built on AFC’s strong track record of successful investments and exits across Africa.
These include projects in renewable energy, port infrastructure, digital connectivity, and industrial platforms.
The Dangote Fertiliser Plant currently plays a critical role in meeting domestic demand while exporting to international markets, thereby generating valuable foreign exchange for Nigeria.
With this new phase of expansion, the company is poised to consolidate its leadership position in the global fertiliser market while advancing Africa’s agricultural and economic resilience.