The Dangote Group has deepened its partnership with the Africa Finance Corporation (AFC) after signing a $600 million loan facility to expand fertiliser production capacity, marking a major push to boost food security and foreign exchange earnings across Africa.
The financing was extended to GreenView Fertilizer Corporation, the holding company for Dangote Fertiliser. It will partly fund the scale-up of urea production in Nigeria and the development of a new fertiliser plant in Ethiopia.
This deal is a core part of Dangote Group’s $7 billion fertiliser expansion programme. The plan will raise Nigeria’s production capacity from 3 million metric tonnes per annum (MTPA) to 9 MTPA at the Ibeju-Lekki plant in Lagos, one of the world’s largest granulated urea complexes. It also backs a new 3 MTPA urea plant in Ethiopia.
Once complete, the programme is set to significantly increase Africa’s fertiliser output, cut import dependence, stabilise prices, and improve crop yields for farmers across the continent.
Speaking on the investment, Dangote Group President, Aliko Dangote, said the expansion would transform Nigeria’s forex position.
“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.”
AFC President and CEO, Samaila Zubairu, described the transaction as a strong example of the corporation’s capital recycling model.
“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.
“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,” Zubairu said.
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