Dangote’s $2.5 billion granulated fertilizer plant to start selling products on Monday


Alhaji Aliko Dangote

Aliko Dangote, Chairman, Dangote Group, has announced that Dangote Industries Limited’s $2.5 billion three million metric tonnes granulated fertilizer plant will commence the sale of fertiliser on Monday.

This was disclosed by Dangote in a meeting with the CBN Governor, Mr Godwin Emefiele, at a tour of the facility in Ibeju-Lekki, Lagos.

“We have gotten all licenses from the National Security Adviser, the Ministry of Agriculture, Standard Organisation of Nigeria, NAFDAC and all other authorities.

READ: Aliko Dangote to earn N234 billion as dividend from his cement business

digital
So, our Urea will be in the market from Monday, and by God’s grace, before the end of this month, we will start bringing in dollars from the first line that we have commissioned,” Dangote said.

The CBN Governor added that the existing capacity from Indo Rama, with about 1.5 million metric tonnes, and Notore with about 300 metric tonnes, would give Nigeria close to five million metric tonnes capacity of Urea.

“Nigeria ranks amongst the leading countries in the production of Urea in the world. This, for me, is a story that no one would have believed would happen in Nigeria,” he said.

 

What you should know
Olajide reported in March that Africa’s richest man, Aliko Dangote, disclosed that one of his closely held assets, the $2.5 billion granulated fertilizer plant located at the Lekki Free Trade Zone (LFTZ), would soon commence operations in Nigeria.

 

Recall also that President Buhari warned last year against the CBN implementing any plans geared at providing forex for the importation of “food items and fertilizers” into the country.

 

Facebook Comments

Be the first to comment

Leave a Reply

Your email address will not be published.


*