AFC Backs Dangote Group With $600m Loan Towards Fertiliser Expansion

The Dangote Group has strengthened its strategic partnership with the Africa Finance Corporation (AFC) with the signing of a $600 million loan agreement to support the expansion of its fertiliser production capacity, in a major boost to food security across Nigeria and the African continent.

The loan facility to GreenView Fertilizer Corporation, the Dangote Fertliser Holding Company will part finance the expansion of its urea fertilizer production capacity in Nigeria and the development of the plant in Ethiopia.

The investment forms part of Dangote Group’s broader $7 billion fertilizer expansion programme, which is expected to increase Dangote Fertilizer’s production capacity in Nigeria from three million metric tonnes per annum (MTPA) to nine MTPA, while also supporting the development of a new 3 MTPA urea fertilizer plant in Ethiopia.
The programme is expected to materially expand Africa’s fertilizer production capacity, strengthen regional food security, support agricultural productivity, and reduce the continent’s dependence on imported fertilizer.
The facility will be deployed towards expanding the Dangote Fertilizer Plant, one of the largest granulated urea fertiliser complexes in the world, located in Ibeju-Lekki, Lagos State.

This expansion is expected to significantly scale up production capacity, enhance supply chain efficiency, and ensure the steady availability of high-quality fertilisers to farmers across Africa.

It will also help reduce dependency on fertiliser imports, stabilise prices, and improve agricultural yields, thereby strengthening the continent’s food security framework.
Speaking on the development, president of Dangote Group, Aliko Dangote said the expansion is expected to generate over $4 billion annually in export earnings within the next three years.

“This funding is for a company that, within the next three years, will export over $4 billion worth of urea fertilizer. I think it is a big contribution to the country’s foreign exchange earnings.

You can continue to count on us. When we say we want to grow our group to $100 billion by 2030, it does not mean we want to grow alone. We want to grow together, especially with the Africa Finance Corporation and other notable institutions in Africa,” he said.

Speaking on the transaction, president & CEO of Africa Finance Corporation, Samaila Zubairu, said, “this transaction demonstrates AFC’s capital recycling model in action. Following the successful repayment of our earlier investment in Dangote Industries Limited, we are redeploying and doubling that capital into Dangote Group’s next phase of growth.

“By supporting the expansion of Dangote Fertiliser, AFC is backing a proven African industrial champion whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent.”

The Dangote Fertiliser Plant currently plays a pivotal role in meeting domestic demand while also exporting to international markets, generating foreign exchange earnings for Nigeria.

With the planned expansion, the company aims to further consolidate its leadership in the global fertiliser market.