The Africa Finance Corporation (AFC) has approved a $600 million financing package to support the next phase of expansion at Dangote Group’s fertiliser business, a move expected to strengthen agricultural productivity and food security across Africa.
The funding was extended to GreenView Fertilizer Corporation, the holding company for Dangote Fertiliser, and will be used to expand urea production operations in Nigeria while also supporting plans for a new fertiliser manufacturing facility in Ethiopia.
The investment forms part of Dangote Group’s fertiliser growth programme valued at about $7 billion. Under the plan, production capacity in Nigeria is projected to rise from 3 million metric tonnes annually to 9 million metric tonnes. The programme also includes the construction of a 3 million metric tonne per year urea plant in Ethiopia.
Industry stakeholders believe the expansion will help improve fertiliser availability across the continent, reduce reliance on imports and support efforts aimed at boosting crop yields and agricultural output.
A significant share of the new financing will be directed toward the ongoing enlargement of the Dangote Fertiliser complex in Ibeju Lekki, Lagos. The facility is regarded as one of the largest granulated urea production plants globally and serves both domestic and export markets.
According to the company, increasing output capacity will improve supply efficiency and ensure a more reliable flow of fertiliser products to farmers across Africa. The initiative is also expected to contribute to greater market stability and strengthen regional food systems.
President of Dangote Group, Aliko Dangote, said the investment would deepen the company’s contribution to Nigeria’s economy through increased exports and foreign exchange earnings.
He stated that the expansion is expected to generate more than $4 billion annually from fertiliser exports within the next three years, describing the project as a major boost to national economic growth. He added that the company remains committed to working with African institutions and partners that share a common vision for the continent’s development.
On his part, President and Chief Executive Officer of Africa Finance Corporation, Samaila Zubairu, said the transaction demonstrates the corporation’s strategy of reinvesting capital into transformative African projects.
He explained that after the successful repayment of AFC’s earlier investment in Dangote Industries Limited, the corporation chose to channel additional resources into the group’s latest expansion drive. According to him, supporting the fertiliser business aligns with AFC’s objective of promoting food security, encouraging industrial development and creating lasting economic benefits across Africa.
