The Dangote Group has signed a $600 million loan facility with Africa Finance Corporation (AFC) to support the expansion of its fertiliser production capacity.
The financing was extended to GreenView Fertilizer Corporation, the Dangote Fertiliser holding company, and will partly fund increased urea production in Nigeria and the development of a new fertiliser plant in Ethiopia.
The deal is part of Dangote Group’s broader $7 billion fertiliser expansion programme.
The programme is expected to increase production capacity in Nigeria from 3 million metric tonnes per annum to 9 million metric tonnes per annum.
It will also support construction of a new 3 million metric tonnes per annum urea plant in Ethiopia.
According to the companies, the expansion is aimed at boosting Africa’s fertiliser output, supporting regional food security, improving agricultural productivity, and reducing dependence on imports.
Use of funds and project scope
AFC said the facility will primarily support the ongoing expansion of the Dangote Fertiliser Plant at Ibeju-Lekki, Lagos.
The plant is one of the largest granulated urea fertiliser complexes globally.
The expansion is expected to scale up production, improve supply chain efficiency, and support consistent availability of fertilisers for farmers across the continent.
The companies also stated that increased output could contribute to price stability and reduce import dependency.Expected economic impact
President of Dangote Group, Aliko Dangote, said the expansion is projected to generate over $4 billion annually in fertiliser export earnings within the next three years.
He described the investment as a contribution to Nigeria’s foreign exchange earnings and national economic growth.
“Our growth vision is not in isolation, we are building alongside strategic African partners like AFC and other institutions committed to the continent’s progress,” Dangote said.
President and CEO of Africa Finance Corporation, Samaila Zubairu, said the transaction reflects AFC’s capital recycling model.
Following repayment of an earlier investment in Dangote Industries Limited, AFC is reinvesting and increasing its capital commitment to support the next phase of Dangote Group’s growth.
“By supporting the expansion of Dangote Fertilizer, AFC is backing a proven African industrial leader whose investments will strengthen food security, reduce import dependence, and create long-term economic value across the continent,” Zubairu said.
Track record and operations
AFC noted that the investment builds on its history of financing projects in renewable energy, port infrastructure, digital connectivity, and industrial platforms across Africa.
The Dangote Fertiliser Plant currently supplies domestic demand and exports to international markets, generating foreign exchange for Nigeria. With the new phase of expansion, the company aims to consolidate its position in the global fertiliser market while supporting agricultural and economic resilience in Africa.
