Dangote Fertiliser Plant, owned by Africa’s richest man Aliko Dangote has been commissioned by President Muhammadu Buhari as part of a planned drive to ensure food sufficiency and boost the nation’s fertiliser needs.
The inauguration of the world-class fertiliser plant estimated at $2.5 billion, with the capacity to produce 3 million metric tonnes (mt) of urea yearly, took place on Tuesday at the Lagos Free Trade Zone, Lekki.
President Buhari inaugurated the fertiliser plant in the presence of dignitaries, including Aliko Dangote, president of Dangote Industries Limited, Lagos State Governor Babajide Sanwo-Olu, Central Bank of Nigeria Governor Godwin Emefiele, and Minister of Trade and Investment Niyi Adebayo.
While performing the official tape-cutting of the plant, the president said the project aligns with the government’s drive to ensure food sufficiency in the country.
“This is a demonstration of enhancing the socio-development of the country,” he said while also commending the Dangote Fertiliser team.
“We are partnering with the private sector through a tax credit scheme on road constructions in the country and rehabilitating railway lines to ease the movement of goods,” he added.
Dangote, on his part, expressed delight at the success of the fertiliser plant, which he claims is the largest in Africa and the second-largest urea plant in the world.
Commenting on the successful inaugural launch of the plant, Dangote said, “It is an ambitious project that will reduce unemployment in Nigeria.”
According to him, “The plant will boost productivity and enhance output across the nation as products from plants have reached the African market, and across Brazil, India, and Mexico.
He added that “Low fertiliser usages have been the reason for low yield of agriculture products. Our goal is to make fertiliser available in quantity for our farmers. We are rolling out initiatives that will transform the agric sector for all.
According to Dangote Industries Limited, the project was built at the cost of $2.5 billion, with the capacity to produce 3 million metric tonnes (mt) of urea yearly.
The company said the plant’s capacity would be expanded to produce multi grades of fertiliser to meet soil, crop, and climate-specific requirement for the African continent.
Source: Business Insider