Dangote targets fertilizer self-sufficiency in Africa inside 40 months to spice up agricultural productiveness

President of the Dangote Group, Aliko Dangote, has introduced a daring plan to make Africa self-sufficient in fertilizer provide inside 40 months.

This formidable purpose is a part of the group’s technique to spice up Africa’s agricultural productiveness and scale back reliance on exterior sources.

Talking on the Annual Afreximbank Assembly in Abuja, Dangote confidently declared, “Within the subsequent 40 months, Africa is not going to import fertilizer from wherever.” 

Dangote’s Imaginative and prescient for Africa’s Fertilizer Business 

The Dangote Group’s fertilizer plant, situated within the Lekki Free Commerce Zone in Lagos, Nigeria, is a $2.5 billion funding that goals to provide 3 million metric tons of urea fertilizer yearly.

This large venture is predicted to not solely meet Africa’s fertilizer wants but in addition generate important income by exports.

Dangote revealed that the corporate is concentrating on a day by day income of $7 million from fertilizer gross sales within the subsequent two years.

Affect on Africa’s Economic system and Meals Safety

Reaching self-sufficiency in fertilizer manufacturing would have a major affect on Africa’s financial system and meals safety.

It might scale back the continent’s reliance on imported fertilizers, create jobs, and enhance agricultural productiveness.

Based on Dangote, the fertilizer plant’s manufacturing capability will assist bridge the hole in fertilizer demand, estimated to be between 5 to 7 million metric tons every year in Nigeria alone.

Africa First coverage

Dangote additionally urged African leaders and stakeholders to undertake a daring “Africa First” financial coverage—one which prioritizes native funding, industrialization, and sustainable growth throughout the continent.

Simply as Donald Trump’s coverage targeted on advancing home pursuits over world commitments, Dangote emphasised that Africa, too, ought to develop methods that put the continent’s financial prosperity on the forefront.

“Once we encourage home buyers they usually succeed, it’s going to inspire overseas buyers to return to Africa,” he mentioned, arguing for a shift in mindset and coverage route.

What You Ought to Know  

• The Dangote Group’s progress plans prolong past fertilizer manufacturing.
• The corporate can also be investing closely in different sectors, together with cement, sugar, and petroleum refining.
• With a projected income of $30 billion by 2026, Dangote Group is poised to change into a significant participant in Africa’s financial panorama.