Africa Finance Corporation has committed US$600 million to support Dangote Group’s ambitious US$7 billion fertiliser expansion programme, which aims to triple production capacity in Nigeria and establish a new plant in Ethiopia.
The financing will go to Greenview Fertiliser Corp., Dangote’s fertiliser holding company. The investment is expected to increase urea production in Nigeria from 3 million metric tonnes per annum (MTPA) to 9 MTPA, while adding a new 3 MTPA urea plant in Ethiopia. The project seeks to boost Africa’s food security, enhance agricultural productivity, reduce reliance on imported fertiliser, and position the continent as a stronger player in global markets.
This latest deal builds on AFC’s long-standing relationship with Dangote Group. AFC previously acted as co-coordinating bank for a US$3 billion syndicated loan for the Dangote Refinery and fully recovered its initial US$300 million senior term loan to Dangote Industries. The new US$600 million facility represents a significant increase in AFC’s support as the refinery project has moved into stable operations.
Aliko Dangote, President and Chief Executive of Dangote Industries Limited, welcomed the partnership: “This investment marks another important milestone in our long-standing partnership with AFC as we embark on the next phase of Dangote Fertilizer’s growth. Expanding our fertiliser production capacity in Nigeria and developing a new plant in Ethiopia will strengthen Africa’s food security, support agricultural productivity, and deepen the continent’s industrial base.”
Samaila Zubairu, President and CEO of AFC, emphasised the strategic importance of the project: “The question before Africa is simple: how will we feed 2.5 billion people by 2050? Africa’s 1.5 billion people consume just 6 million tonnes of urea annually, compared to 40 million tonnes in India and 50 million tonnes in China. Closing this productivity gap is essential to Africa’s food security. By supporting the development of the world’s largest fertiliser platform, AFC is helping build the foundation for Africa to feed itself, create productive jobs and strengthen our economic sovereignty.”
Africa currently imports large volumes of fertiliser despite holding substantial natural gas reserves and a significant share of the world’s uncultivated arable land. The expansion is seen as a key step toward reducing dependence on foreign supplies, particularly after recent global supply chain disruptions.
AFC has supported multiple phases of Dangote’s industrial growth, including a working capital facility in partnership with Access Bank for the Dangote Refinery’s crude procurement and initial operations.
The financing aligns with AFC’s mandate to invest in critical sectors such as energy, transport, logistics, industrial processing, and food security across Africa. Since its establishment in 2007, the pan-African institution has invested over US$19 billion across 36 countries.
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