Dangote Secures $600m AFC Facility To Increase Fertiliser Output Across Africa

The Dangote Group has secured a $600 million financing facility from the Africa Finance Corporation (AFC) to accelerate the expansion of its fertiliser production capacity across Africa, in a deal expected to significantly strengthen food security and agricultural productivity on the continent.

The facility, arranged in partnership with the Africa Finance Corporation, will be channelled through GreenView Fertiliser Corporation, the Dangote Fertiliser holding structure, to partly finance the expansion of urea production capacity in Nigeria and support the development of a new plant in Ethiopia.

The investment forms part of the group’s broader $7 billion fertiliser expansion programme, which aims to raise production capacity at the Dangote Fertiliser Plant in Ibeju-Lekki, Lagos, from three million metric tonnes per annum (MTPA) to nine MTPA. It will also support a planned 3 MTPA urea fertiliser facility in Ethiopia.

Once completed, the expansion is expected to significantly boost Africa’s fertiliser output, reduce dependence on imports, stabilise supply, and enhance access to affordable inputs for farmers across key agricultural markets.

The Dangote Fertiliser Plant, one of the world’s largest granulated urea complexes, currently plays a central role in meeting domestic demand while also serving international markets. The new investment is expected to deepen its export footprint and strengthen Nigeria’s foreign exchange earnings.

President of the Dangote Group, Aliko Dangote, said the expansion would deliver substantial economic returns, projecting annual export earnings of over $4 billion 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 fertiliser,” he said. “It is a big contribution to the country’s foreign exchange earnings. You can continue to count on us as we grow towards our $100 billion group vision by 2030, alongside partners like AFC.”

President and CEO of AFC, Samaila Zubairu, described the deal as a demonstration of the corporation’s capital recycling strategy, following earlier investments in Dangote Industries Limited.

He said the new facility reflects AFC’s commitment to reinvesting in high-impact African industrial projects that strengthen food systems, reduce import dependence, and generate long-term economic value across the continent.