Africa's wealthiest businessman, Aliko Dangote, has set an ambitious target for his conglomerate: to become the world's foremost fertiliser producer by the year 2028. This bold declaration was made during his keynote address at the Imo Economic Summit, highlighting a significant expansion plan for the Dangote Group's agricultural output.
Massive Production Expansion Plan
The cornerstone of this strategy is a dramatic increase in urea production capacity. Dangote announced intentions to ramp up output from the current 3 million tonnes per year to a staggering 12 million tonnes within the next three years. This fourfold expansion is designed to transform Nigeria from a significant player into the globe's top fertiliser exporter, fundamentally altering the dynamics of the global agricultural inputs market.
The industrialist confirmed that substantial investments are already underway to turn this vision into reality. This move capitalises on Nigeria's vast natural gas reserves, a key feedstock for urea fertiliser production, promising to add immense value to the nation's resources and generate substantial foreign exchange earnings.
Commendation for Government Reforms and Call for Local Investment
Dangote used the platform to express support for recent federal government economic policies. He specifically pointed to reforms in the foreign exchange market and the removal of the longstanding fuel subsidy as measures beginning to yield positive results. He praised President Bola Tinubu for demonstrating "strong and decisive leadership" and indicated expectations for further policy adjustments aimed at stabilising the economy.
Turning his focus to regional development, Dangote directly engaged Imo State Governor Hope Uzodinma. He urged the governor to identify priority sectors where the Dangote Group could potentially invest within the state, reaffirming the conglomerate's openness to supporting viable local economic opportunities.
A central theme of his address was a powerful call to action for Nigerian and African investors. Dangote emphasised that domestic businesses must take the lead in driving the continent's economic growth. He argued that meaningful foreign investment typically follows the commitment and confidence demonstrated by local entrepreneurs. He referenced the continent's untapped potential, noting that Africa holds an estimated 30% of the world's mineral resources but risks losing value if local investors fail to seize the initiative.
Strategic Partnerships and Continental Footprint
The push for global leadership is backed by concrete international agreements and technological partnerships. Notably, Dangote Industries recently signed a monumental $3 billion agreement with Ethiopia to construct a major fertiliser plant in the Somali Regional State. This facility, strategically located near the Ethiopia-Djibouti logistics corridor, will produce nitrogen and urea-based fertilisers for both regional use and export, aiming to boost agricultural productivity and stabilise supply chains in East Africa.
Furthermore, to achieve the scaled production in Nigeria, Dangote Fertiliser Limited has entered into a critical technology licensing deal with Germany's thyssenkrupp Uhde Fertiliser Technology (UFT). This partnership will facilitate the construction of four new urea granulation plants at the Lagos complex, with the German firm providing licensed technology, process design, and specialised equipment.
These combined efforts—the Ethiopian venture and the German technology alliance—are pivotal to realising the 2028 ambition. Dangote concluded by reiterating his group's unwavering commitment to investing within Nigeria and across Africa, pledging to play a leadership role that stimulates greater investment flows into the continent's burgeoning economy.
